Kanye West & Dame Dash Have Not Bought Karmaloop Yet

As of late, Kanye West and Dame Dash have been collaborating for several different ventures, such as working together on GLC’s comeback project. However, it looks like their move that grabbed the most attention hasn’t quite come into fruition yet. We previously reported on the pair’s interest in purchasing online streetwear retailer Karmaloop and subsequent reports that seemed to all but officially confirm the endeavor, but as HipHopDX notes, Kanye and Dame Dash’s “buyout” of Karmaloop has not yet happened. While Kanye West and Dame Dash are probably still interested in buying Karmaloop and Karmaloop’s higher-ups themselves seem to acknowledge their serious interest in purchasing the company, Boston Globe reported the following regarding Karmaloop’s status:

“As part of the bankruptcy process, an auction for Karmaloop will take place in mid-May. A minimum offer, known as the stalking horse bid, has been set at $13 million. Selkoe said he plans to remain at the helm after the reorganization.”

So, if ‘Ye and Dash want to buy Karmaloop, they’ll have to attend an auction and make a bid like everyone else.