News: Diddy "Diversifies His Portfolio," Buys Enyce
Wednesday, Oct 22, 2008 10:05AM
Continuing to expand his empire and business ventures, hip-hop mogul Diddy has officially announced his purchase of urban clothing company, Enyce.
After receiving monumental success since the launch of his popular signature fashion label, Sean John, Diddy has resorted to his video blog to inform the public about his acquisition of yet another company.
"Your boy Sean Combs, aka Sean John, has purchased a new clothing brand called Enyce," he said while wearing the a jacket with the company's signature. "I bought this brand to add to my portfolio, for my mini-fashion empire that I'm trying to start. I'm an entrepreneur. I'm from the same place just like you."
Diddy also detailed where his passion to begin a line of fashion companies stemmed from.
"I had a dream to start a fashion empire, so like, ten years ago I started with Sean John and then, I bought in to Zac Posen," he added. "And now to diversify my portfolio, today I made a smart, business move. A shrewd business move."
Calling himself the "black [Warren] Buffet," Diddy went on to justify his purchase as a well calculated business transaction due to today's changing economy.
"In this time of depression and recession, we have to do things that are smart as business people. And I'm sending this out to all my up-and-coming business people, I'm here to share some insight on what I did. I feel like there are some hard times that we're facing so we gotta buckle down but there also opportunities in this beautiful country."
Using the same technique he's used on his hit singles, Diddy plans to reformat the clothing brand to his liking.
"I'm the king of the remix," he said. "If y'all wondering what I'm gonna do, I'm gonna remix the brand and make it hit like I make my records. I'mma put my marketing power behind it and do my thing. The brand as you know it today isn't the brand as you're gonna know it six months from now. So um, thank y'all for your support with Sean John, with Zac Posen and now with Enyce."