ENYCE Fashion Label
Bought by Sean "Diddy" Combs
Fashion Article Posted October 22, 2008
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Sean Diddy Combs and Liz Claiborne Inc. announce the purchase of fashion label ENYCE by Sean Diddy Combs. Founded in 1996, Enyce is a denim based sportswear brand offering knits, wovens, outerwear, and graphic tees for men and boys, as well as a successful Big and Tall and women's line. Liz Claiborne purchased Enyce in 2003. Both companies will work together to ensure a smooth and orderly transition for retail partners, vendors and employees.
Founder and CEO of Sean John, Sean Diddy Combs
said, 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. 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.
William McComb, Chief Executive Officer of
Liz Claiborne Inc., commented, As we continue to
implement our strategy of building powerful
brands, we determined that we can't properly
maximize the potential of Enyce. 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
Liz Claiborne Inc. is in the process of determining the impact of the non-recurring cash charges, which will be insignificant to the Company's cash flows, and non-cash charges associated with this transaction. The operating results of Enyce and the impact of this sale transaction will be presented as discontinued operations in the Company's financial statements.
If you did not already know about Diddy; SEAN COMBS, the CEO and founder of Bad Boy Worldwide Entertainment Group is a multifaceted entertainment powerhouse. Sean "Diddy" Combs was recently declared "One of the Most Influential Businessmen in the World" by Time Magazine and CNN. Combs, 38 oversees one of the world's preeminent urban entertainment companies, encompassing a broad range of businesses including recording, music publishing, artist management, television and film production, recording facility, apparel and restaurants.
Learn about Liz Claiborne.
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