Hip-hop star will get 50 per cent share of profits
Thursday, 25 October 2007
P Diddy has signed a multi-year deal to promote Ciroc vodka for a 50 per cent share in the profits, which could be worth a cool £50million.
The hip-hop mogul says that he is planning to take the agreement beyond a typical endorsement deal by helping to build the brand.
'I'm not just a celebrity endorser, I'm a brand builder. I'm a luxury brand builder,' P Diddy tells the Associated Press.
He will be responsible for marketing Ciroc, deciding where and how to sell it, and winning over new customers.
The star, 37, is already involved in many commercial ventures including Bad Boy Records, clothing lines Sean John and Sean by Sean Combs and two restaurants. His has an estimated fortune of £180millon.
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