Diddy Rescues Hip-Hop Clothing Label

When is Sean “Diddy” Combs a bargain shopper when it comes to clothes? When he's buying clothing companies.

Diddy has acquired the Enyce brand from Liz Claiborne Inc. for a mere $20 million, according to Women's Wear Daily. While $20 million would buy Combs quite a few Rolls Royces, it's nothing compared to the $114 million Claiborne spent on the company in 2003 when they acquired it from Sport Brands International.

Raking in $95 million in sales that year, the company has since faltered, along with many other hip-hop labels. Claiborne had already scaled back the line's production and was looking for a buyer when Combs came to the rescue.

Click here to read more on this story from Women's Wear Daily.