Friday, April 23, 2004

Sean John, designer Posen teaming up



Sean John, founded by rap mogul Sean "P. Diddy" Combs, has formed a joint venture with Zac Posen, considered one of fashion's brightest new stars.

Sean John is making a long-term investment in the growth of the Zac Posen label and the two companies will be equal partners, according to a statement. The deal allows Posen to remain creatively autonomous.

Posen is known best for his dresses - and his ability to draw celebrities such as Claire Danes and President Bush's daughter, Barbara, to his runway shows.

"Zac Posen is a true design talent that I respect and admire," said Combs, who serves as Sean John's chief executive officer. "He's got what it takes. And Sean John is going to give his company the opportunity to grow because we believe in him."

Posen plans to continue expansion of his ready-to-wear collection, which debuted in 2001, while developing an accessories business.

Sean John has annual retail sales in the United States of more than $450 million. The company plans to open its flagship store on Manhattan's Fifth Avenue later this year.




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