Sean "P. Diddy" Combs in seach for executive to run his $450 million Sean John company
Sean Combs is reported looking for a new head executive for his US$450 million Sean John apparel company. He is reportedly in negotiations with Bob Wichser, the former chief executive of Joseph Abboud, about taking on a similar role at his Sean John apparel company.
Combs has been in search for an executive to run his company since February, when Jeffrey Tweedy, his executive vice president of sales and marketing resigned.
The New York Post reports that Mr. Wichser is believed to be the lead contender among a handful of candidates under consideration. Mr.Wichser's experience at Joseph Abboud, a maker of upscale men's apparel, is in line with Sean John's new focus on a more upscale mens line, as opposed to baggy jeans and sweatshirts is was once known for.
Combs is in the process of positioning his company as a major life style marketing brand. He has branched out into the auto industry with a designer US$100 000 limited edition Sean John Lincoln Navigator and designer rims. He is currently exploring the launch of a wireless music services company targeted at the youth market. He sold 50% of his Bad Boy Records for $30 million to Warner Music Group and signed a production deal with MTV to develop TV shows and films.
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