Diddy Buys Enyce

 Image by wenn.com

P. Diddy is definitely not feeling the economic crisis that has affected most Americans. Because he has just purchased fashion company Enyce for $20 million. Not too shabby. Apparently that was a total steal, seeing that the previous owners, Claiborne, bought Enyce for $114 million.

Diddy says of his new venture:

"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. 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."

Well everything he does turns to gold, so we have only high hopes for him turning this line around and making it relevant again. Diddy also addressed the state of the world right now, saying, "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 line."