Diddy Buys Enyce Clothing Line For $20 Million
According to Women’s Wear Daily, Liz Claiborne Inc. purchased Enyce for $114 million in 2003 but the clothing line’s sales have dramatically declined.
Liz Claiborne Inc. believe that Diddy will help rejuvenate the once popular clothing line.
“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,” explained William McComb, CEO of Liz Claiborne Inc. “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.”