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Sean Diddy Combs faces potential brand dissolution as his sex trafficking case looms
Sean “Diddy” Combs' gin line could be sold as the rapper's sex trafficking conviction is still pending.
Sean “Diddy” Combs' gin line could be sold as the rapper's sex trafficking conviction is still pending. The 55-year-old musician is awaiting trial on allegations of racketeering and has been detained at New York City's infamously harsh Metropolitan Detention Center.
Diageo, the company that makes Gordon's gin and Baileys, is reportedly considering selling Cîroc Vodka, the alcoholic beverage that the music tycoon formerly supported. According to industry observers, the brand may be worth more than $100 million based on current market values.
The conversations reportedly follow Diageo's settlement of a lawsuit in which the rapper accused the company of racism for allegedly ignoring his vodka and tequila brands. While the contents of the settlement were kept under wraps, industry insiders speculate that it was a multimillion-dollar deal.
In January, he severed his connections with the brands and dismissed his cases “without prejudice.”
This legal settlement came before his current legal issues, which made brand valuation and market placement more difficult.
Diageo in troubles?
Meanwhile, Diageo has been having trouble reviving sales of Cîroc in China and Latin America after Combs was arrested in September on sex trafficking allegations. Furthermore, massive purchases of Guinness have caused shortages in several UK pubs over the Christmas party season.
According to market sources, Cîroc sales have decreased by 15% in important Asian markets.
A Diageo representative refused to comment on Bloomberg's reports that the company had begun reaching out to possible Cîroc purchasers.
In the past few weeks, the spirits enterprise has seen a number of high-profile brand acquisitions, indicating a vibrant market for luxurious alcohol brands.
Diddy's weight significantly reduced in jail
According to the claims, Combs has significantly reduced his weight while being in prison. The sharp contrast between his former way of living and his current situation has made his lifestyle a topic of public fascination.
“He appeared just astonishingly thinner, which you can expect (from him being) inside a federal detention centre for a couple of months now,” said Law and Crime reporter Elizabeth Millner after the Wednesday hearing, as per Page Six.
“A lot different from the luxury lifestyle that he was living before, but he appeared very noticeably thinner and maybe being locked up in detention is starting to wear on him.”
The rapper has been refused bail three times while in federal jail.
Combs was under suicide watch during his first week in detention, but it was soon lifted when his attorney stated his client was "focused and very strong."
