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Karmaloop Sale Buzz Heats Up: Will Kanye West and Damon Dash Nab It?

E-commerce site Karmaloop has confirmed that a number of potential buyers have expressed interest in the company, including rap star Kanye West and music mogul Damon Dash.

“As we confirmed earlier this week, Kanye and Dame are among several people we’ve spoken with about Karmaloop. We’re having a lot of conversations and seeing intense interest in our brand,” Karmaloop founder and CEO Greg Selkoe said in a statement.

Social media was abuzz with talk of a potential deal.

“We decided to go buy Karmaloop. We just talked about it, so it’s going to happen,” Dash stated in one of a series of three Instagram videos posted with West to the social media platform on Thursday.

The recent bankruptcy filings of two of Karmaloop’s brands have fueled talk of a sale. According to the U.S. Bankruptcy Court, Karmaloop Inc. and Karmaloop TV Inc. filed for Chapter 11 on Monday in the District of Delaware.

Whatever happens, Selkoe plans to remain with the company, which sells a variety of sneaker and other footwear brands.

“I am here to stay, no matter who we join forces [with],” the Karmaloop founder said via Twitter.

A public relations representative for Karmaloop could not confirm if Selkoe will remain with Karmaloop if the company is sold.

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