October 5, 2022

Diddy Bids $3.3 Million to Buy Sean Jean Brand Back From Bankrupt Owner

It appears to be like like Diddy is placing his cash the place his mouth is when it comes to his OG style firm. Within the newest information, the Dangerous Boy Leisure founder is making an attempt to the Sean John model again after the present proprietor filed for chapter.

Diddy based Sean Jean in 1998 and the model took off immediately. Celebrities like Mariah Carey, Cassie, and Nick Cannon in Love Don’t Price a Factor have all been caught within the well-known jean and sportswear model. In 2016, Diddy offered nearly all of the model for about $70 million to World Manufacturers Group (GBG). Nevertheless, the model only in the near past filed for Chapter 11 chapter in New York.

In an try to rescue his model, Diddy has positioned a bid for $3.3 million.

Diddy and World Manufacturers Group haven’t at all times had the most effective historical past. In accordance to HypeBeast, he has sued the corporate twice earlier this yr. In February, he sued GBG  for $25 million on account of “false endorsement, misappropriation of likeness and violating his publicity rights.” Per week later he sued for $60 million “for breach of contract, unfair competition, common law trademark infringement, deceptive practices, and unjust enrichment.”

The multi-million greenback mogul and the bankrupt holding firm have a tough previous, however GBG claims it has a lot respect for Sean Jean. Bloomberg stories, “GBG USA Chief Financial Officer Mark Caldwell described the Sean John brand as a ‘crown jewel’ of the company’s brand portfolio.”

Potential consumers have till December 15 to place a ultimate bid on Sean Jean.