Streetwear Brand Sean John is Returned to Music Mogul Diddy After $7.5 Bankruptcy Bid
The brand, started in 1998 is back in the hands of Diddy after he doubled his initial bid of $3.3 million during the bankruptcy auction, securing his ownership once more.
Iconic streetwear brand Sean John is back in the hands of its founder Diddy, after a bidding war that saw the music mogul standing tall after a purchase of a little over $7.5 million.
Sean John was under auction after bankruptcy was filed. Diddy initially placed a bid of $3.3 million before ultimately doubling down and bringing the brand back home to his Sean Combs Enterprises.
The brand was launched in 1998, just a year after the untimely demise of GOAT The Notorious BIG. Sean John was part of a slew of urban brands that were started by entertainers hoping to capitalize off the success of iconic brand such as: Karl Kani, FUBU, Walker Wear, and anything made by Dapper Dan. Sean John experienced more success than most artist-ran brands up until it’s sale to Global Brands Group.
Diddy ended up suing the brand for “false endorsement, misappropriation of likeness and violating his publicity rights.”
“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,” he said to WWD reporters. “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.”
