Kanye’s love affair with the fashion world continues.

In a statement delivered through Instagram, Kanye West and Roc-A-Fella co-founder Damon Dash have confirmed rumours that they are buying troubled online streetwear retailer Karmaloop.

“So we just about to do some new shit and just stick together culturally and take over the world… create a whole new industry and just play the game fair,” he said across the two short clips. “You know, honorable people stick together, so this is how the generations do. Now you super famous (he said, pointing to Kanye) 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.”

The pair haven’t disclosed how much they’re buying the company for, but earlier reports suggested Karmaloop were looking for a $3 million investment from Comvest Partners and CapX Partners to restructure the company.

Rumours that the pair would buy Karmaloop have been circulating since the company filed for Chapter 11 bankruptcy on March 23. The company was originally founded in 2000 by Greg Selkoe from the basement of his parents home in Jamaica Plain, and became a key destination for urban streetwear.

You can watch the full statement in the video below. [via MTV News]



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