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| Breaking: P. Diddy Buys Enyce
Sean "Diddy" Combs just bought Enyce from Liz Claiborne, Inc. (with his financial partner the Yucaipa Cos.) for $20 million.
Claiborne had originally purchased Enyce in 2003 for $114 million, so that's quite the depreciation in five years.
Does this mark an Enyce comeback, Diddy style?
Diddy Says:
"Enyce is a brand that I have always admired, and they have been a very important player in the young men's sportswear arena for over a decade. I am really excited to bring it into our portfolio of brands that already includes Sean John and Zac Posen,"
Diddy said in a release. "Given our track record of success in marketing products such as Ciroc Vodka, Unforgivable by Sean John, and all of our television titles, I look forward to adding our expertise to an already hot fashion line. Our long-term plan is to grow the Enyce brand through innovative marketing, expansion of the menswear and boy's lines, and launching into new licensing categories."
The Sean John owner says that in spite of the current economic woes, he"s confident the purchase was a great investment. "The current economic climate may be challenging, but we believe it is also an opportunity, and we are really excited to add Enyce to our lineup."
Diddy Talks About The Deal >
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PAF DEDDI (PI DIDDI)
