Sean “Diddy” repossessed ownership of the Sean John fashion label for $7.551 million.  

The famous hip hop label launched in 1998 and had a significant following during the height of Diddy’s career. He sold 90% in the company to Global Brands Group in 2016 only to buy it back.  

“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,” Combs 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.”  

Global Brands Group, created in 2005 as a division of Li & Fung to manage private label brands, filed for Chapter 11 bankruptcy in July 2021. The company will use Chapter 11 to auction its U.S. assets.  

Combs placed a bid to buy the Sean John brand for $3.3 million through a company called SLC Fashion LLC, but the four other competitors also submitted offers.  

Combs won CFDA Men’s Designer of the Year award in 2004 for Sean John. At the time, he won the award over Ralph Lauren and Michael Kors.  

The Sean John label found great success when they formed an exclusive partnership with Macy’s in 2010, appearing in 400 stores nationwide.  

They renewed the agreement in 2015.  

“I have always admired Sean’s sense of fashion, as well as his business acumen,” said Macy’s then-CEO, president and chairman Terry Lundgren at the time. “He has a keen insight into the needs of a style-conscious, contemporary man. In becoming the exclusive department store retailer of his men’s sportswear collection, Macy’s is able to bring a new dimension to this customer across the United States.”