After Damon Dash claimed that he and Kanye West were in bids to purchase the struggling webstore Karmaloop, which just filed for Chapter 11 bankruptcy, all rumors have now been put to bed as the two took to Instagram to confirm their final purchase. Dash uploaded two videos of himself and Kanye, stating, “You know, honorable people stick together, so this is how the generations do. Now you super famous (pointing to West) and we linking up and we decided to go buy Karmaloop. We just talked about it, so it’s gonna happen, and a couple other cool things.” Karmaloop founder Greg Selkoe, meanwhile, confirmed the new partnership via Twitter, and mentioned that he plans to remain a part of the e-store’s future.

Stay tuned for more information as and when it drops.

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