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Diddy taking a dip in vodka venture


October 25, 2007 The hip-hop mogul has inked a multiyear deal to develop the Ciroc vodka brand -- one of Diageo PLC's superpremium lines -- for a 50-50 share in the profits. It's the latest agreement in which a celebrity is going beyond the typical endorser role to share in a brand's rise and fall, such as Jay-Z with Budweiser and 50 Cent with Vitamin Water. Combs said he wanted to work with Diageo because the company understood that I'm not just a celebrity endorser, I'm a brand builder.

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