Sean Combs is Buying His Sean John Brand Back for $7.5M

Just years after selling a majority stake of streetwear brand Sean John to Global Brands Group, Sean “Diddy” Combs is now buying it back.

The artist and entrepreneur is paying $7.5 million to regain total ownership of the brand according to a WWD report.

“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 said to WWD. “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.”

Global Brands Group designs, develops, markets, and sells products under a portfolio of owned and licensed brands. Brands include Fiorelli, AllSaints, Navigare, Dirk Bikkembergs, Dimensione Danza, and others.

The company’s North American Arm had filed for Chapter 11 bankruptcy earlier this year and has been looking for ways to sell off its assets, including the Sean John brand.

According to the WWD report, Combs had submitted a $3.3 million bid in bankruptcy court to obtain the brand through SLC Fashion LLC, an acquisition company.

Combs sued GBG for almost $25 million earlier this year, alleging the unlawful trading of his name after GBG partnered with British retailer Missguided to sell Sean John apparel. The lawsuit was dropped after GBG had filed for bankruptcy.

Disclaimer: We have no position in any of the companies mentioned and have not been compensated for this article.