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Diddy Reclaims Ownership Of His Sean John Brand For $7.5M

Diddy owns Sean John again. Complex is reporting that the REVOLT capo and multi-millionaire successfully purchased the floundering brand from its former owners, GBG USA, Inc. “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,” Diddy said in an exclusive statement to Complex. “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.” As fans of the brand are aware, Diddy initially sold 90 percent of the shares of Sean John to GBG USA, Inc., in 2016. Subsequently, GBG filed for Chapter 11 (business reorganization) bankruptcy, leaving the brand open for purchase. Initially, according to the outlet, about 45 other prospective buyers were contacted to purchase the brand. Diddy — real name:...