Diddy’s DeLeon Tequila Makes Its Grand Entrance With Diageo

News

/ January 8, 2014

Diddy is set to have the world pouring up once again with his new liquor, DeLeon Tequila. According to an announcement Wednesday (Jan. 8), the music mogul will look to make it rain in the libation business by partnering with Diageo, where his Ciroc vodka has already made waves.

“With Ciroc, we dated. Now with DeLeon, we’re married,” Diddy said in an interview. “This deal is way better. This makes me a true owner.”

In 2007, the Bad Boy CEO became the face of Ciroc, which has already raked in near 40-fold rise in annual sales.

The move proves strategic for distilled liquor company Diageo, who recently stopped selling Jose Cuervo, the world’s top-selling tequila, after letting the distribution agreement expire.

While price points weren’t readily available, Comb’s favorite tequila, the anejo, sells for about $200 a pop. Last year, Diageo North America President Larry Schwartz told Reuters last year that he would replace the profit made by Cuervo within two years.

“If we can get the accelerator on DeLeon like we had on Ciroc, two years is within reason,” Schwartz said, noting “this isn’t going to be the last entry into tequila for Diageo going forward”.

Read the full report here.