It could be worth millions for the hip-hop mogul
P Diddy has signed a multi-year deal to promote the Ciroc vodka brand for a 50 per cent share in the profits, which could be worth more than $100 million over time, according to the brand owner.
The hip-hop mogul said that he is planning to take the agreement beyond a typical endorsement deal by helping to build the brand, which is one of Diageo PLC‘s super premium lines.
“I’m not just a celebrity endorser, I’m a brand builder. I’m a luxury brand builder,” P Diddy told the Assoicated Press.
P Diddy, whose real name is Sean Combs, will be responsible for marketing the brand, deciding where and how to sell it, and winning over new customers.
The star’s business ventures also include clothing and perfume lines, and serving as chief executive of Bad Boy Worldwide Entertainment.
–By our Los Angeles staff.