Sean ‘Diddy’ Combs has bought his global streetwear label, Sean John, back for $7.551 million.
“I launched Sean John in 1998 with the goal of building a premium brand that shattered tradition and introduced Hip Hop to high-fashion on a global scale,” Combs says in a statement.
“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.”
Diddy sold almost all of his brand to Global Brands Group in 2016— 90% to be exact. But GBG’s U.S. unit filed for Chapter 11 bankruptcy this summer, primarily due to the pandemic. SLC Fashion LLC, a company linked with Combs, initially tried to repurchase the brand for $3.3 million.
In February, Diddy sued Global Brands Group for $25 million, alleging it used his image without consent to help boost profits.
“[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.
Combs is almost at billionaire status, with a reported net worth of $885 million.
Outside of fashion and music, he oversees Bad Boy Entertainment, Combs Wine & Spirits (Ciroc and DeLeon), Aquahydrate, Revolt Films, TV & Media and Capital Prep Harlem.
