Days after Dame Dash hinted at a partnership with Kanye West for the acquisition of recently bankrupt retailer, Karmaloop, the former Roc-A-Fella Records CEO followed with a confirmation.
In a pair of Instagram videos, Dame stands alongside Kanye to formally announce that they plan to purchase the company.
“You know, honorable people stick together, so this is how the generations do,” he said. “Now you super famous (pointing to West) 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.”
Karmaloop founder Greg Selkoe confirmed that he did, in fact, speak to Kanye, via Twitter. “Good speaking today @kanyewest say what up to Don for me!”
The announcement follows news that Karmaloop has filed for Chapter 11 bankruptcy, with $500 million in liabilities and just $50 million in assets.
Despite the financial trouble the brand is in, Selkoe told the Boston Globe that Karmaloop “isn’t going anywhere.”