Diddy’s name is his name. The mogul is now bidding on buying back his Sean John clothing brand.
As spotted on Complex the serial entrepreneur is trying to save his failing apparel empire from bottoming out. Back in 2016 he sold a majority stake to Global Brands Group but the brand management firm recently filed for chapter 11 bankruptcy. Bloomberg reports that Combs has put in a bid of 3.3 million dollars to buy the assets back so he is the sole owner. Currently he is the highest bidder but other potential buyers have until December 15 to throw their names in the hat. A undisclosed source that TMZ says is close to the mogul says “very excited” at the thought of getting the company back and breathing new life into it.
Earlier this year Diddy sued Global Brands Group for using his likeness without approval. “[Diddy] does not challenge [Sean John/GBG’s] right to use the Sean John trademark, but rather [Sean John/GBG’s] decision to leverage a fabricated quote they created and then falsely attributed to Mr. Combs, and to use Mr. Combs’s name and other monikers to create the false and misleading impression that Mr. Combs is the decision-maker behind the designs and creation of the GBG Collection,” his lawyer said at the time.
In 1999 Sean Combs launched a signature collection of sportswear under his given name, Sean John. In 2004, Sean John was awarded the CFDA Men’s Designer of the Year award.
Photo: Bernard Smalls
Take That, Take That: Diddy Has Put In A Bid To Buy Sean John Clothing Brand Back was originally published on hiphopwired.com