Diddy Expands His Empire

Fashion designer, fragrance creator, and music producer/rapper Diddy debuted his latest endeavor yesterday: Ciroc Vodka. Diddy will help develop the brand in a deal which could get him more than $100 million. He held a press conference in NYC to announce the news and discuss how involved he'll be in the branding. Here's more:

"It is not an endorsement deal," Combs told The Associated Press on Tuesday night. "This is something that will have my daily attention." 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. I'm a luxury brand builder."

Combs said he will be responsible for everything from marketing the brand to deciding where to sell it, and will focus on attracting "movers and shakers" to the line. "They're looking for something that tastes like their lifestyle. It's that trendsetter, that hipster, someone who's looking for luxury and looking for something better."

He's definitely got a knack for business, branding, and making money including the best selling celebrity fragrance of the year. In fact, he even said that he's planning on spending some of his earnings on a few fancy gifts for J Lo's new little one(s).