Of Dior Homme
That's "Dior Homme", not "Dior, homie"

from Kanye West (Ft. Rick Ross) – Devil in a New Dress Lyrics on Rap Genius

Meaning

“The Lyor Cohen of Dior Homme” is a new, smoother (though less-catchy) version of Kanye’s nickname “The Louis Vuitton Don”

“Dior Homme” is the men’s division of high-end clothing label Christian Dior (homme = man in french)

A non-French speaker would probably read ‘homme’ as ‘homie’, so Kanye gives us a quick pronunciation lesson as an excuse to explain the joke in his previous line (we’ll forgive you this one time because it’s a pretty clever line)

Kanye has come a long way in his fashion game (and as a whole) since he “couldn’t even pronounce nothin” referring to his “Ver-say-see” watch in All Falls Down

Now it’s Kanye doing the correcting and not the other way around.

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