According to Diageo, the venture will be worth over $100 million for Diddy over the course of the deal, all things being equal. Unlike Jay-Z’s partnership with Ace of Spades brand of champagne, Diddy’s vodka agreement is not an endorsement deal. Diddy will also be in charged of marketing and promoting the brand.
The Bad Boy CEO, who already has his own line of fashion and cologne, is optimistic that the deal will yield high results. “Once consumers actually taste Ciroc,” said Diddy “I think we can convert a lot of people.”