Sean Combs, recording artist and businessman, bought the fashion line Enyce from Liz Claiborne, for a reported $20 million. Combs' financial partner on the deal was Yucaipa Cos.

Liz Claiborne bought Enyce in 2003 for a reported $114 million.

Combs' fashion lines already include Zac Posen and Sean John. "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," Combs said in a statement. "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."