Diddy wrapped 2013 in an explosive way with Revolt TV — and he’s starting 2014 with a bang. Well, technically, a shot.
Diageo, the world’s leading premium drinks business, and Sean Combs announced that they have furthered their relationship by creating a new joint venture that has purchased luxury tequila brand DeLeón.
The joint venture, a 50/50 global partnership between Diageo and Combs Wine & Spirits, builds on a strategic alliance formed by Diageo and Combs Enterprises to develop and grow the Cîroc ultra-premium vodka brand. Since the alliance began in 2007, Cîroc has grown from just 50,000 cases a year into a nearly 2 million case brand. The DeLeón joint venture will benefit from Diageo’s strong distribution network, supply chain, and marketing capability and Sean Combs’ access to influencers and proven track record of marketing luxury lifestyle brands.
DeLeón is a 100% blue weber agave boutique tequila brand with a loyal following in Hollywood and the U.S. music industry. The brand appeals to an important audience of status-conscious consumers who choose spirit brands as part of their luxury lifestyle. The acquisition of DeLeón will accelerate Diageo’s share of ultra-premium and above ($40+) tequila, which is the second-fastest growing tequila segment in the U.S., according to Nielsen.
“Celebration is a cornerstone of all my businesses, and this joint venture is a natural extension of that portfolio,” said Sean Combs, Chairman, Combs Wine & Spirits. “DeLeón is an outstanding brand that appeals to those who love exceptional tequila in a distinctive bottle. Together with Diageo, we will take DeLeón to new heights.”
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