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Kanye West and Damon Dash Just Bought Karmaloop

Photo: <a href="https://www.facebook.com/Karmaloop/photos/pb.6560321844.-2207520000.1427462822./10152689024156845/?type=3&theater">Karmaloop/</a>Facebook
Photo: Karmaloop/Facebook

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Damon Dash confirmed via Instagram that he and Kanye West have purchased Karmaloop, the Boston-based streetwear company that filed for bankruptcy on Monday. Fashionista spotted Dash's series of Instagram videos announcing the news, confirming rumors that built up throughout this week. (On Monday, Karmaloop tweeted the word: "Kanyeloop?") In the video, Dash says, "We decided to go buy Karmaloop. We just talked about it, so it's going to happen." Aside from that, there aren't too many details about what West and Dash have planned for the site, so stay tuned. UPDATE: According to the Boston Business Journal, Karmaloop CEO Greg Selkoe still has not confirmed the deal.