Launching the brand in 1998, Sean John boasted annual retail sales of around $450 million in 2016 and had an exclusive partnership with Macy’s. That same year Combs sold a majority stake in the company to Global Brands Group.
In 2021, Diddy sued Global Brands for trademark infringement over its use of his “Vote or Die” slogan. He claimed that the phrase solely belonged to him and that using it with Sean John implied that he was still in creative control of the fashion label brand.
According to Bloomberg, the North American base of Global Brands Group filed for Chapter 11 bankruptcy in July 2021, and had been considering buyers for the fashion company since May.
Earlier this month, Combs submitted an offer to buy back Sean John for $3.3 million. Although other bids were considered, Combs' won his fashion label back under his SLC Fashion imprint.
Combs confirmed his purchase on the fashion label in an official statement.
"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," he added.