tMacy's snagged another one: Sean John Menswear will now be sold exclusively at the department store starting this October.

As part of the deal, there will be extensive Sean John shops established in Macy's flagship stores at Herald Square in New York City, Union Square in San Francisco, State Street in Chicago, Dadeland in Miami, and South Coast Plaza in Costa Mesa, Calif.

The deal was announced at a press conference at The Standard Hotel in Manhattan's Meatpacking District this morning by Terry Lundgren, Macy's Inc.'s CEO chairman and president, Macy's chief merchant Jeff Gennette, and Sean "Diddy" Combs himself.

"We get approached by a number of people" wanting to be exclusive to Macy's, Lundgren said. "We turn down 95 percent of the brands because they have to be successful." However, the company jumped at the chance to bring Sean John aboard.

"We have raving fans for Sean John," Gennette said, adding that Sean Jean is currently in 375 Macy's stores, but could, through this partnership, go to all stores.

Combs, who apologized for his raspy voice by explaining that he's recording a new album set for release on June 28, said he was going to go all out to promote this partnership.

"I have a movie coming out in June and an album. I will be doing every television show, and this will be one of my talking points," he said. "I've done a billion dollars of business with Macy's, and I expect to do billions more."

This is a homecoming of sorts for Combs. "My relationship with Macy's started a long time ago," Combs tells StyleList. "I worked at Macy's when I was 16 at the New Rochelle Mall [in NY], selling dress shirts and ties." He adds that although he hasn't been to that store in a while, he expects this deal will bring him back.

Of course, it wouldn't be a Diddy event if there wasn't bubbly involved, so the deal was toasted with champagne (even though it was before noon). Cheers!

In other news, read what Macy's has in store for spring.