Diddy Signs Multiyear Deal With Vodka Brand
Hip-hop mogul Sean "Diddy" Combs announced a multiyear, 50/50 profit deal with Ciroc vodka, adding the premium alcohol brand to his ever-expanding list of business ventures. "It is not an endorsement deal," Combs told the Associated Press on Tuesday. "This is something that will have my daily attention."
Diddy's best-selling fragrance, Sean John Unforgivable, racked up over $74 million in sales last year. Diageo PLC, the owner of Ciroc, hopes Combs' magic touch will help boost their brand and, as a result, sales. "I can't overhype someone into loving vodka," Combs said. But once consumers actually taste Ciroc, the hip-hop impresario says "I think we can convert a lot of people."