Skip to main content
BoF Logo

The Business of Fashion

Agenda-setting intelligence, analysis and advice for the global fashion community.

Sean ‘Diddy’ Combs Pays $7.5 Million to Buy Sean John Brand From Bankruptcy

Sean "Diddy" Combs is set to regain control of his fashion brand, Sean John.
Sean "Diddy" Combs is set to regain control of his fashion brand, Sean John. (Wikimedia Commons)

Sean “Diddy” Combs agreed to pay $7.5 million to buy back the bankrupt fashion brand he founded in 1998 after winning a court supervised auction.

“Seeing how streetwear has evolved to rewrite the rules of fashion and impact culture across categories, I’m ready to reclaim ownership of the brand, build a team of visionary designers and global partners to write the next chapter of Sean John’s legacy,” Combs said in an emailed statement.

The label is currently owned by the bankrupt brand manager GBG USA Inc. GBG made 85 percent of its money by selling clothing and footwear through retailers like Costco, TJ Maxx and Nordstrom, according to court documents.

GBG had sold most of its other assets before the Sean John auction. Combs, bidding through an entity called SLC Fashion, agreed to pay $51,000 more than the next highest offer, according to court papers.

ADVERTISEMENT

Before the sale can close, GBG must get approval from the judge overseeing its bankruptcy in Manhattan.

By Steven Church

Learn more:

Why Streetwear and NFTs Are a Perfect Match

Both trade in heavily hyped, limited-edition products that offer a sense of community. Fashion brands aiming to tap digital art take note.


In This Article

© 2024 The Business of Fashion. All rights reserved. For more information read our Terms & Conditions

More from Entrepreneurship
Analysis and advice on new fashion ventures, including key lessons for entrepreneurs.

Now, Anyone Can Be a Sneaker Designer

That’s the promise of Zellerfeld, a 3D-printing partner to Louis Vuitton and Moncler that’s becoming a platform for emerging designers to easily make and sell footwear of their own.


view more

Subscribe to the BoF Daily Digest

The essential daily round-up of fashion news, analysis, and breaking news alerts.

The Business of Fashion

Agenda-setting intelligence, analysis and advice for the global fashion community.
CONNECT WITH US ON
BoF Professional - How to Turn Data Into Meaningful Customer Connections
© 2024 The Business of Fashion. All rights reserved. For more information read our Terms & Conditions, Privacy Policy, Cookie Policy and Accessibility Statement.
BoF Professional - How to Turn Data Into Meaningful Customer Connections