Damon Dash and Kanye West to acquire KarmaLoop

After an announcement that Karmaloop would be filing Chapter 11 Bankruptcy, Damon Dash announced on Instagram that he would buying Karmaloop along with Kanye West.

Damon Dash and Kanye West to buy Karma Loop

“Board meeting had to go over some @damondashstudios biz showed him @loisaidas and @toohonorable_ddstudios got the thumbs up and yeah the Karmaloop thing is real…,” he wrote on Instagram. “This is exactly how I saw things 10 years ago and he’s doing some shit that even I couldn’t do but it’s not my place to speak on it…but let’s just say iam proud as fuck…that’s the way it’s supposed to be…the younger dudes are supposed to be better then us…that’s what we fight for #honaorablepeoplesticktogether.”

About Karmaloop

Karmaloop is a 15-year-old e-retailer company that houses many trendy brands like 10 Deep, Crooks & Castles, and Revolution Riche, reportedly owed a massive amount of debt including $8 million to Insight Venture Partners of New York and almost $1 million to Google, the Boston Globe reports.

“We tried to do too many things,” owner George Selkoe said. “We launched too many different sites in too short of a period of time.”

Generations of real fighters sticking together for the whole world to see…this was always the plan but shit is real and where not doing any bubble gum shit and I hope the whole world sees this and wants to do the same thing…stay tuned #honaorablepeoplesticktogether #hustleforyourlastnamenotyourfirst @loisaidas @damondashstudios @murdamookez @kushedgod @heavenupinharlem_127 @smokeysuarez @queenofharlem @mr_camron @iamjuju_ @raquelmhorn @orgieswiththechef he wit us we fight the same fight…he actually does some Harlem nigga shit #harlemstickstogether @iamjiton too

A video posted by @duskopoppington on Mar 26, 2015 at 2:51pm PDT