Liz Claiborne Inc. is selling its urban lifestyle brand Enyce to Sean John Clothing Inc., the apparel company owned by hip-hop impresario Sean "P. Diddy" Combs (pictured at a BRAG Event) Representatives for Liz Claiborne and Sean John declined to discuss the terms of the deal. But a person familiar with the deal (notice we always have a person "familiar with the deal") said that Enyce (pronounced "En-EE-chay") -- which Claiborne bought for $114 million in 2003 -- was valued at about $20 million. Enyce's sales, which hit $100 million at their peak, have shrunk to about half that amount as retailers have consolidated.
In an interview, Mr. Combs said he plans to retool the brand, expand its distribution and take advantage of his connections in the entertainment industry to promote it.
"In music, people know me as the 'King of the Remix,' " Mr. Combs said. "Now I am remixing this brand and making it a hit."
"In music, people know me as the 'King of the Remix,' " Mr. Combs said. "Now I am remixing this brand and making it a hit."
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