According to WWD, Diddy has reclaimed ownership of his renowned Sean John brand for $7.551 million USD.
“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.”
The mogul sold the majority interest in Sean John to Global Brands Group (GBG) in 2016, with Diddy retaining a 10 percent stake. In July 2021, the North American arm of Global Brands Group, the Hong Kong-based company that owns 90 percent of the Sean John label, filed for Chapter 11 in New York and sought to sell its assets.
With a net worth estimated at around $885 million, this new business venture can help him reach a billion.