Kanye West And Dame Dash Have Confirmed They’re Buying Karmaloop

UPDATE 3/27/15 1:50 p.m.: Not so fast, 'Ye and Dame. Karmaloop and its CEO Greg Selkoe issued the following statement to Four Pins: "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."

After a week of rumors about the future of online retailer Karmaloop, after the company filed for bankruptcy, Kanye West and Dame Dash have revealed that they're set to buy it. In a series of Instagram posts, the business partners, who already have a film project together underway, confirmed that they're taking over the business. "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," Dash captioned one of the videos on Instagram. He and Kanye have yet to reveal their plans for the retailer but considering how Kanye has been talking about making his own H&M-priced line for a while, it seems likely that Karmaloop will play some role in that.

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...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 stay tuned of course @raquelmhorn there taking historic cool pictures
A photo posted by @duskopoppington on Mar 26, 2015 at 2:41pm PDT

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

Part 2 @loisaidas @damondashstudios #honaorablepeoplesticktogether @toohonorable_ddstudios @hollywoodreporter @vfhollywood @vanityfair @variety @bbcnews @nymag @britishvogue @hamishbowles @dlipper @voguemagazine @nytimesfashion @newyorkermag
A video posted by @duskopoppington on Mar 26, 2015 at 2:59pm PDT

Lead photo: Jamie McCarthy/Getty Images