News: Diddy Explains How To Make $500 Million [Video]
Thursday, Sep 30, 2010 12:20PM
Entertainment mogul Diddy has detailed how his Sean John clothing brand is able to bank over $500 million annually, as it is one of the top urban brands in the market.
According to Diddy, he intentionally avoids racial boundaries and places emphasis on the fashion aspect.
Sean "Diddy" Combs made a somewhat inconspicuous debut into the fashion world with the launch of Sean John. The collection began with mostly jeans, t-shirts and velour track suits, but now boasts $500 million in annual sales. "We have been able, in the U.S., to break down color barriers and break down stereotypical barriers," Combs recently told CNN. "A lot of people, if they see somebody of color, they may think, 'Oh, it's the baggy clothes. It's Hip Hop clothes.' Our line is directly the opposite. It's pure fashion, elegant, sophisticated and fun." (Hip Hop DX)
Appearing on the Home Shopping Network last November, the rap mogul reportedly sold over $400,000 worth of his Sean John fragrance lines.
Talk about a business man. Diddy grossed an average of $10,000 of sales per minute on his recent visit to the Home Shopping Network where he sold out of his fragrance collections I Am King and Unforgivable Men and Women in a total of 40 minutes. The sell out was a record for the Home Shopping Network where over 5,600 units were sold at an average price of $68 for a gross of over $400,00o in sales. After this success you can be sure the the Home Shopping Network will be the new go-to spot for celebrities pushing their products. (Woooha News)
Sean John was launched over a decade ago by Diddy.
In 1998, Combs decided to launch a signature collection of sportswear under his name Sean John. Since its launch, Sean John has enjoyed critical and commercial success with revenues now exceeding $100 million annually. Sean John has often appeared at the award ceremony for the Council of Fashion Designers of America (CFDA) held annually in New York. For five consecutive years since 2000, Sean John has been nominated for its excellence in design. In 2004, Sean John was awarded the CFDA Men's Designer of the Year award. (Wikipedia)
In a recent XXL Magazine feature, Diddy declared his legacy in hip-hop.
"Hands down, undisputed, I'm the undisputed heavyweight champion of hip-hop. We are going to have to deal with those facts. There is nobody that can f*ck with me with what I do, which is getting busy. We are going across the board, as an entrepreneur, innovator, motivator. Who was there first? Who traveled to Europe first? The first. The first. The first. The first. I was the first." (XXL Mag)
Check out Diddy's CNN interview down below: