In further evidence that the world is having a Y2K flashback, Sean “Diddy” Combs once again owns Sean John, the men’s fashion brand he founded in 1998.
The multi-hyphenate celebrity won a bid in court yesterday to reacquire Sean John (its Holiday 2017 campaign is pictured above) from bankrupt Global Brands Group for $7.551 million. He reportedly sold a 90 percent stake to GBG in 2016 and sued the company in February of this year for $25 million for “false endorsement, misappropriation of likeness and violating his publicity rights.” The suit has now been dropped according to various media outlets.
GBG’s U.S. unit filed for Chapter 11 in July 2021.
When Combs sold Sean John five years ago it reportedly had annual sales of approximately $450 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,” said Combs said in a statement he released to the media. “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,” he added.
The CFDA awarded Combs as Menswear Designer of the Year for Sean John in 2004.
The brand currently offers a full range of men’s apparel including Big and Tall options as well as four signature fragrances.