Kanye West and Dame Dash have reportedly shown interest in purchasing Karmaloop. Karmaloop’s founder and CEO Greg Selkoe officially announced the online retailer filed for Section 11 protection to restructure and streamline the business.
Dame and Yeezy supposedly smelled blood, and over the weekend, Dash revealed the duo’s purchase this week in the above video interview with Hip Hop Motivation. He quickly followed by stating he would “put the Complex Network out of business for f***ing with me,” and that “It’s a war.”
Joie Manda is somewhere snickering at announcing a big deal before it’s signed. Only time will tell how it plays out, though.
Mr. Kardashian and Damon should have some interesting discussions with Comvest and CapX. The firms are ponying up $3M which enable Karmaloop to clean house. They can preside over their new investment with care which could ruffle the feathers of the fiercely independent Dash. That said, with over 4M unique visitors a month, the clothing giant should be able to shred the experimental businesses and quickly pick up steam. US e-retail’s expected to jump another 33% this year from $307B to $398B.