Diddy bids $3.3 million to purchase Sean Jean model from bankrupt majority proprietor

The enterprise mogul bids $3.3 million on Wednesday in an try and reacquire the Sean Jean attire model he based 23 years in the past

Sean “Diddy” Combs is attempting to rescue the Sean Jean attire model he based 23 years in the past following a chapter submitting by the corporate’s present proprietor.

On Wednesday, Combs bid $3.3 million to reacquire Sean John from the North American division of World Manufacturers Group USA Inc. (GBG), the model administration agency and holding firm that filed for chapter in July, in keeping with the Wall Avenue Journal.

Pre-GRAMMY Gala and GRAMMY Salute to Industry Icons Honoring Sean "Diddy" Combs - Inside
Sean ‘Diddy’ Combs accepts the President’s Benefit Award onstage through the Pre-GRAMMY Gala and GRAMMY Salute to Trade Icons Honoring Sean “Diddy” Combs on January 25, 2020 in Beverly Hills, Calif. (Picture by Alberto E. Rodriguez/Getty Photos for The Recording Academy)

GBG has owned 90% of Sean Jean since Combs offered a lot of the firm again in 2016, in keeping with style trade information website WWD. Sean Jean generated about $450 million in annual retail gross sales in 2016, however the Covid-19 pandemic took a significant toll on GBG’s funds, in keeping with Style United, a commerce publication.

Bloomberg stories that GBG, which additionally owns different model labels created by Jennifer Lopez, Eva Longoria and the property of Bob Marley, has been searching for a purchaser for Sean Jean since Could.

A Dec. 15 deadline has been set for different consumers to submit larger bids, in keeping with TMZ. The leisure information website stories sources near Diddy say he’s captivated with reacquiring and revamping Sean John.

The model, based in 1998, was one of the common hip-hop clothes firms through the 2000s, together with different city attire traces similar to Jay Z‘s Rocawear and Kimora Lee Leissner‘s Child Phat.

Comb’s earlier plan was for GBG to assist Sean Jean appeal to extra millennial clients, in keeping with Style United, however their enterprise relationship soured after GBG allegedly used the mogul’s 2004 “Vote or Die” marketing campaign slogan on merchandise with out his permission.

In February, Combs filed a $25 million lawsuit in opposition to Sean Jean and a further $60 million go well with in opposition to GBG for trademark infringement, in keeping with HypeBeast and PageSix.

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