Diddy is officially the owner of his fashion lifestyle brand, Sean John — again.
The business mogul, born Sean Combs, won the bid to gain complete ownership of the brand for a whopping $7.551 million, People confirmed.
The buy-back comes after Combs, 52, sold a majority stake in the company to Global Brands Group in 2016.
In a statement obtained by People, Diddy said, “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.”
Diddy added, “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.”
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