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Sean Combs seeking to buy back his fashion brand from its bankrupt current owner
By Chris Cooke | Published on Friday 3 December 2021
Sean ‘Diddy’ Combs is trying to buy back the Sean John fashion brand he originally set up in 1998, and which he sold to the Global Brands Group five years ago.
Diddy sold a majority stake in the fashion business for a reported $70 million in 2016. Now he could get it all back for a bargain $3.3 million, because the good old Global Brands Group is going through bankruptcy and is therefore keen to get whatever it can from its various assets.
According to Bloomberg, Combs has made an offer to buy back Global’s share of Sean John. The company he has made that offer through has been formally described in court papers as a stalking-horse bidder, which basically means its offer sets a base level price, and now other interested parties willing to spend more can make their bids.
So, if you’ve got a spare $3.31 million to spend and fancy owning the Sean John brand, you’ve got until 15 Dec to make your offer.
Earlier this year, Combs sued Global Brands Group twice in the space of a month, both for trademark infringement and for overstating his current involvement with the Sean John brand. If his acquisition is successful, then at the very least it would sort all of that out.
