Sean "Diddy" Combs buys Enyce from Liz Claiborne

Liz Claiborne's streetwear label Enyce has been purchased by Grammy-winning musician and entrepreneur Sean "Diddy" Combs. Claiborne, which bought the denim-based streetwear line in 2003, said the company had determined that it could not "properly maximize the potential of Enyce". The sale is a continuation of Claiborne's strategic reorganisation and comes only months after the company said it would be keeping the brand, and planned to strengthen and expand its activities, despite the sale of other labels in its portfolio.

William McComb, chief executive officer of Liz Claiborne Inc., commented, "Enyce is a strong brand with a loyal customer following, however the unsettled economic environment and our commitment to properly resource and focus on other brands in our portfolio contributed to this decision."

"As a leading player in the young men's market, Sean Combs has the expertise and resources to help Enyce endure this difficult period and ultimately thrive. We are pleased that Sean Combs has decided to purchase the brand" he concluded.

Founder and chief executive officer of Sean John, Sean "Diddy" Combs said he was excited to bring Enyce into his company's portfolio of brands that already includes Sean John and Zac Posen. The company also owns record companies, tv and film production companies, restaurants, fashion and fragrances.

Combs commented "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. "

"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 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."

The companies said they will work together to ensure a smooth and orderly transition for retail partners, vendors and employees.

Image: Enyce