Sean Combs once again has Sean John in the palm of his hands.
is the proud owner of his clothing brand again -- being reunited with his Sean John line after buying it out of bankruptcy for a steal.
The rap mogul won the rights to Sean John after a bidding war with 4 other parties ... claiming it for about $7.5 million, cash. The deal will be finalized this week, barring any objections -- and safe to say, the guy's pretty excited about it. He tells TMZ ..."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 adds,"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."recently under management firm GBG USA Inc., which had owned 90%. When word of its assets being up for grabs reached Mr.
Diddy, via his company, threw down an initial bid of $3.3 mil -- but after some back and forth among others who were interested, he ended up settling for over double that. Still ... it's a helluva deal, especially if he can breathe new life into the threads.
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