Diddy On Brink Of Buying Back Sean John Brand Out Of Bankruptcy – VIBE.com

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Throughout his career, Sean “Diddy” Combs has built a multi-faceted empire that has included ventures in music, television, spirits, and more. Yet, one of the mogul’s first successful side hustles was Sean John, the fashion and lifestyle brand he launched back in 1998 before selling his majority stake in 2016. Now, the mogul is looking to buy it back out of bankruptcy.

According to a legal filing obtained by TMZ this past Thursday (Dec. 2), SLC Fashion LLC, a company associated with Diddy, has put in a $3.3 million bid to acquire Sean John from GBG USA. Inc., which filed for Chapter 11 bankruptcy this past summer. While Diddy is currently the highest bidder for Sean John, potential buyers have until Dec. 15 to submit an offer to purchase the company. GBG USA. Inc., which suffered massive losses as a result of the COVID-19 pandemic currently owns a 90% majority stake in Sean John.

Diddy’s relationship with GBG USA. Inc. has been peppered with various legal battles as of late. This past January, he filed a $60 million lawsuit accusing GBG USA. Inc. of “breach of contract, unfair competition, common law trademark infringement, deceptive practices, and unjust enrichment” due to the company’s usage of the “Vote or Die” slogan, which Diddy famously popularized leading up to the 2004 Presidential Election. The impresario argued that GBG USA. Inc.’s usage of the slogan suggested that he was still the owner of Sean John. Another lawsuit against the company was filed by Diddy shortly after, this time to the tune of $25 million, for “false endorsement, misappropriation of likeness and violating his publicity rights.”

During Diddy’s tenure at the reigns of the company, Sean John was one of the hottest brands on the market, yielding hundreds of millions annually in sales and opening the door for figures in Hip-Hop to infiltrate the world of high fashion. In 2004, the Bad Boy boss made history by becoming the first Black man to win the coveted CFDA Menswear Designer of the Year Award for Sean John, beating out fashion titans like Ralph Lauren and Michael Kors for the honor.

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