Diddy New Macy’s Deal
Diddy New Macy’s Deal – Diddy has inked a distribution deal with Macy’s for his Spring 2011 Sean John sportswear collection, in his latest big business venture.
The hip-hop mogul took to Twitter this morning (May 5) to tease the news with one of his seemingly biweekly “big news today” tweets. “Sean John announces EXCLUSIVE deal with Macy’s,” he wrote. “Today is a GREAT day. More Focus, more fashion, more money…!”
Macy’s will be the exclusive US department store retailer for the Sean John men’s sportswear collection. The contemporary fashion sportswear line will include woven sport shirts, knits, sweaters, tees, vests, denim, shorts and collection pants, outerwear, jackets and sports coats.
“I got my start at Macy’s when I was 16, selling shirts and ties,” Diddy explained to the New York Post. “To come full circle like this is a dream come true.”
Macy’s currently runs 850 stores in the United States with balanced distribution across the nation. When the deal kicks in, Sean John will be available online at macys.com and get prominent placement in 400 stores before an eventual roll out to all national chains.
“I am overwhelmed and humbled by the recognition from such an iconic American retailer as Macy’s and we’re astounded by the opportunity that this exclusive deal gives the Sean John brand and all of our licensing partners. When I launched the Sean John brand over 11 years ago, we created the tag line ‘The Future of Fashion’ and today as we are announcing this partnership, I truly believe the future has arrived,” said Sean John Founder, Sean “Diddy” Combs.
In recent years, the major retailer has taken on other fashion brands exclusively, namely Tommy Hilfiger and Martha Stewart. This sort of distribution deal actually carries a much bigger risk than selective buying by season. “Frankly, we turn down 95 percent of the invitations we get to sell these brands exclusively,” explained Macy’s CEO Terry Lundgren. “We are committed to make this the most successful launch we’ve had.”