The former Roc-A-Fella mogul took to Instagram Thursday (Mar. 26) to break the news alongside his silent partner (literally in this case).
“So we just about to do some new sh-t and just stick together culturally and take over the world… create a whole new industry and just play the game fair” he said in the short clip. “You know, honorable people stick together, so this is how the generations do. Now you super famous (pointing to ‘Ye) and we linking up and we decided to go buy Karmaloop. We just talked about it so it’s gonna happen and a couple other cool things.”
Rumors that the newly reunited pair would buy the streetwear e-tailer began to spread after the company filed for Chapter 11. Although KL was about to secure a $3 million investment from Comvest Partners and CapX Partners for a company restructure, CEO Greg Selkoe did acknowledge that buyers were interested in purchasing the company.
“A lot of people have expressed interest in partnering with Karmaloop,” Selkoe told MTV News. “I have tons of respect for Damon and Kanye and for what they’ve done professionally, and we’re keeping lines of communication open with a number of interested parties.”