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Diddy has his clothing brand back!
Sean John was bought out of bankruptcy, after Diddy won the rights in a bidding war, claiming it for $7.5 million, cash.
"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. "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."
Sean John fell into bankruptcy under management firm GBG USA Inc., which owned 90%. Diddy, will see if he can breathe new life into the company.