Mr. “King of the Remix”…remixing ENYCE to make it a hit
FACT: Sean “P. Diddy” Combs has recently acquired the urban lifestyle brand Enyce from Liz Claiborne, Inc.
While specifics regarding the recent buy are unknown, it has been reported that the ultimate entrepreneur himself, Sean Combs, sealed the deal for a cool $20 mil. That is what Enyce is currently valued at, which is a stark decrease from it’s worth only a mere five years ago, when Liz Claiborne Inc. bought the label for $114 million.
Amid the current trend in decreased consumer spending, many retailers have consolidated which is partly to blame for Enyce’s declining value. Enyce’s sales, which hit $100 million at their peak, have shrunk to about half that amount. A loss of appeal and attention to & from it’s target consumer base are part of the problem, as well.
In an interview, Mr. Combs said he plans to retool the brand, expand its distribution and take advantage of his connections in the entertainment industry to promote it. With the “D, the I, the D, the D, the Y” behind the label, there’s no doubt Enyce will reach the swagger it once knew on the racks a few years back.
Take a look at Diddy personally breaking the news:
Diddy Breaking News #1 - Diddy aka Black Buffet Talks About Buying ENYCE
