Diddy Announces Partnership with Vodka Company

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Hip-Hop mogul Sean "Diddy" Combs and Diageo, the world's largest spirits, wine and beer company, announced today that they have formed a new strategic alliance.

According to the terms of the groundbreaking deal, Diddy's Sean Combs Enterprises, will take the lead on all brand management decisions for the company's Ciroc Vodka, while sharing in the future profits of the growth of the brand.

This exclusive U.S. multi-year collaboration also allows for a 50/50 profit split, which is a first for the spirits industry and could be worth more than an estimated $100 million for the Bad Boy CEO in the future. Combs will spearhead the decision-making process in several areas of the company's development, including marketing, advertising, public relations, product placement and events.

"It is an honor and a privilege for me to partner with Diageo on this venture," Diddy said via a statement. "I pride myself on the company I keep and will only work with the best. My extensive track record as a brand builder ranges from cultivating music careers and creating a lifestyle fashion brand, to launching two signature fragrances and producing a hit television show, all of which have given me the necessary skills needed to establish a luxury brand. I am confident that this alliance with Ciroc will be a success."

Diddy was apparently chosen to further increase the company's public image and profile, enhancing it's identity as a luxury brand. The company also says that a significant amount of energy will also be given to expressing their commitment to promoting responsible decision making while drinking.

"Sean Combs has a proven track record of developing high-end brands and we expect his alliance with Ciroc to follow suit," said Debra Kelly-Ennis, chief marketing officer, Diageo North America. "We are confident that Sean and his team are the right partners to further enhance the luxury profile of Ciroc."