Diddy In the Vodka Market
Diddy is diving into the vodka business.
The music mogul and business entrepreneur inked a multi-year deal to develop the Ciroc vodka brand in which he shares 50% of the profits.
Diddy says the deal is so important that it "will have my daily attention." He is opening a marketing office at his midtown Manhattan headquarters, so that he can devote time to the brand.
The agreement will be worth more than $100 million for Diddy's Sean Combs Enterprises over the course of the deal, depending on how well the brand performs.
Diddy will oversee the marketing of the brand -- including where it will be available and will also get it into the hands of the "movers and shakers" to help its growth.
Read more: http://www.ballerstatus.com/article/news/2007/10/3308/
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