Sean "Diddy" Combs inked a multi-year deal to develop the Ciroc vodka brand — one of Diageo PLC's superpremium lines — for a 50-50 share in the profits. Diageo said the agreement could be worth more than $100 million for Combs over the course of the deal, depending on how well the brand performs. "It is not an endorsement deal," Combs told The Associated Press on Tuesday night. "This is something that will have my daily attention." Combs said he wanted to work with Diageo because the company understood that "I'm not just a celebrity endorser, I'm a brand builder. I'm a luxury brand builder."
Wednesday, October 24, 2007
Diddy Signs Ciroc Vodka Deal
Sean "Diddy" Combs inked a multi-year deal to develop the Ciroc vodka brand — one of Diageo PLC's superpremium lines — for a 50-50 share in the profits. Diageo said the agreement could be worth more than $100 million for Combs over the course of the deal, depending on how well the brand performs. "It is not an endorsement deal," Combs told The Associated Press on Tuesday night. "This is something that will have my daily attention." Combs said he wanted to work with Diageo because the company understood that "I'm not just a celebrity endorser, I'm a brand builder. I'm a luxury brand builder."
