Sean Combs, who started and once owned Sean John wants to buy it back after selling it several years ago. The current owner filed for bankruptcy.
Recently the former owner of the Sean John brand, Sean Combs has put in a bid of $3.3 million in a attempt to purchase the assets back the once popular fashion brand.that he started in 1998 Accordingly to Bloomberg. The current owner GBG USA Inc, who is now bankrupt owns 90 percent of the brand through a joint venture based of court document that was filed Wednesday.
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Reports says that’s an affiliate of Sean Combs Has been named the bidder for Sean John, the representative for Combs choose not to comment. According to the court papers, potential buyers can submit their bids up until Dec 15 2021.
The chief financial officer of GBG USA Chief Mark Caldwell has described how the Sean John brand is a “crown jewel” of the company’s brand portfolio. GBG has been selling off other brands that are owned by them since July, when they filed for bankruptcy, including shoe line Aquatalia.
Since it filed for bankruptcy in July, GBG has been selling off its other brands, including shoe line Aquatalia.