Kanye West And Damon Dash Buy Karmaloop; The Duo Also Sued For Their Movie ‘Loisaidas’

Rapper Kanye West has collaborated with Damon Dash and bought streetwear e-commerce site Karmaloop. The company had filed for bankruptcy on March 30, according to Hollywood Reporter. Dash is an entrepreneur and was the manager of Jay Z and business partner at Roc-a-Fella record.

The duo took to Dash’s Instagram on April 3 to announce the partnership. There were a series of three videos posted, which confirmed the news. Dash told that he and Kanye are going to stick together. He said that the rapper is very famous and when they got together, they decide to purchase Karmaloop. The entrepreneur also hinted that they would collaborate on several other things also which would gradually follow suit. About music, he added that they would not venture into it unless and until it was a fun thing.

Karmaloop is a multi-platform web retailer, community style and media company which was founded in 2000. The sister sites of the company include internet television station KarmaloopTV, ladies-only site MissKL, flash-sale site PLNDR, online skateboard retailer Brick Harbor and independent marketplace Kazbah. It has helped bring streetwear labels, including 10 Deep and Crooks and Castles, into the spotlight.

Damon and Kanye in their posts on Instagram have tagged fashion publications like Vanity Fair, WWD and Vogue and designer Rodarte and other celebrities like Hamish Bowles, Naomi Campbell and Gisele Bundchen. So from their social media posts it is evident that West and Dash will be adding an element of high fashion to the site. “[We're] not doing any bubblegum shit, and I hope the whole world sees this and wants to do the same thing," reads the caption of one post. Stay tuned,” Damon wrote.

Meanwhile, “Loisaidas” singer Michael Medina has sued Kanye and Dash and is taking the duo to court for stealing the group’s name and tarnishing their image as well. Kayne has collaborated with Dash and produced a movie by the same name. The singer feels that the movie tarnishes his brand because it promotes murder, violence, and drug sales. The Latin music band was started back in 2008 in New York City and has the name which means a slang term for the Lower East Side.

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