Global Brands Group acquires majority of Sean John label

It seems that founder Sean “Diddy” Combs will no longer be the majority stakeholder of his own fashion label. Global Brands Group just acquired a majority stake in the menswear brand Sean John.

Although his stake in the company has changed, Combs will still control about 20 percent of the label. The menswear brand makes approximately 525 million dollars per year, according to the brand’s LinkedIn page. Through the acquisition, Sean John will then become part of CAA-GBG Global Brand Management Group. Details of the transaction deal was not disclosed publicly.

The privately held fashion lifestyle company was created by Combs in 1998. The company first started with a men’s sportswear collection that year. Since then, the label has expanded to offer tailored suiting, dress shirts, neckwear, footwear, accessories, and more. With all of these apparel categories, Sean John became a menswear lifestyle brand, which is now available in over 500 Macy’s stores across the U.S.