In an uncanny business move, Diddy recently purchased Enyce Clothing from Liz Claiborune. Enyce originally launched over ten years ago and their only item for sell then was denim jeans, but now the brand provides jeans, polos, tees, jackets, and more. However, many are saying that this was a bad decision on Diddy’s part because over the pass five years the brand’s popularity has dropped drastically. So, Diddy now has the challenging task of trying to breathe life back into the dwindling brand. Enyce was bought for a total of $140 million. Checkout the statement Diddy provided (listed below) and video (after the jump).

“Enyce is a brand that I have always admired, and they have been a very important player in the young men’s sportswear arena for over a decade. I am really excited to bring it into our portfolio of brands that already includes Sean John and Zac Posen. Given our track record of success in marketing products such as Ciroc Vodka, Unforgivable by Sean John, and all of our television titles, I look forward to adding our expertise to an already hot fashion line. Our long-term plan is to grow the Enyce brand through innovative marketing, expansion of the menswear and boy’s lines, and launching into new licensing categories. The current economic climate may be challenging, but we believe it is also an opportunity, and we are really excited to add Enyce to our lineup. ”