- In this Dec. 3, 2014 file, photo, Kanye Wests attend the premiere of “Top Five” at the Ziegfeld Theatre in New York.
- Evan Agostini/Invision/Associated Press
Online streetwear retailer Karmaloop Inc., which was sold to one of its creditors Thursday, drew interest from a number of celebrities—including Kanye West, according to people familiar with the sale process.
“We were doing our best to avoid being starstruck,” said Michael O’Hara, Karmaloop’s investment banker.
Entertainment moguls, well-known athletes and at least 50 other prospective purchasers held meetings with Karmaloop’s professionals during a months-long effort to find a buyer for the bankrupt company.
“They ranged from your traditional private equity firms all the way through to Kanye West,” said Brian Davies, Karmaloop’s chief restructuring officer.
Mr. Davies said Karmaloop’s core demographic, those between the ages of 18 and 35, was particularly attractive to many of the sports stars and other celebrities.
“For a lot of these athletes and a lot of these stars, that was the demographic they are looking at,” he said.
Both Mr. O’Hara and Mr. Davies said Karmaloop may still partner with a celebrity, which could add significant value to the company’s business.