Diddy Purchases Tequila Company
Diddy and Diageo PLC are back at it again. The business partners plan to trump their success with Ciroc by taking over the tequila industry.
According to reports, both parties have jointly bought the famous American luxury tequila brand, DeLeon, in an attempt to repeat their success with their popular premium vodka product. The millionaire hip-hop mogul originally joined the company back in 2007 to be the face of their franchise via a joint marketing and profit-sharing deal that was uncommon for celebrity endorsers. Over six years later, the sweet tasting grape-distilled drink has enjoyed a fast-growing 40-fold increase in sales thanks to the entrepreneur's proven magic touch and practically dominates the youth and urban demographic.
When asked in an interview about his new venture with Diageo, Diddy explained: "With Ciroc, we dated. Now with DeLeon, we're married." The rapper/producer then added, " "This deal is way better. This makes me a true owner."
The new deal plans to make up for the world's biggest distilled drinks company's discontinuing their distribution deal with Jose Cuervo, after a fallout with the golden-colored drink's family-based owners. Diageo's vision is to replace their missing profits via the Mexican-based beverage by banking on the cultural icon's proven track record of success as a growth-driver.
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