The purpose of this blog is to inform the class of America’s “Top 9 Hip Hop Entrepreneurs of 2012” and the various business ventures in different industries that contributed to their individual successes.
Countdown Top 9 Hip Hop Entrepreneurs of 2012: #2 P. DIDDY
Name: Sean Jean Combs
Stage Name(s): Diddy, P. Diddy, Puff Daddy
Forbes Hip Hop’s Top Earners List: #2 of 9
How Much??? $45 Million
As you can see, as we get closer and closer to #1, the list of business ventures of these hip hop entrepreneurs start to increase exponentially; P. Diddy is no exception.
P. Diddy, the CEO of Bad Boy Worldwide Entertainment Group and last year’s #1 hip hop entrepreneur, again had an very lucrative year in 2012.
In addition to Making the Band MTV shows, here are some of his other business ventures that have been instrumental in building his empire:
- Sean John Clothing, own by Christian Casey Group which is owned by Bad Boy. The clothing line created in 1998 and was been has reportedly making $100 million a year with numerous fashion design nominations. In 2011, they made an exclusive contract with Macy’s . Link: http://visionaryartistrymag.com/2011/09/sean-john-tailor-made-success/
- Sean John fragrance under Sean Jean Clothing. In 2005, P. Diddy made a joint venture with M.A.C., an Estée Lauder company. Sean John’s fragrance, Unforgivable, reached No. 1 in the U.S. department stores in 2006. The line expanded to Unforgivable Woman and I Am King, which are sold in more than 35 different countries. Links: http://www.elcompanies.com/pages/sean-john.aspx
- In 2003-04, Diddy teamed up with Reebok to design Dallas Mavericks’ (NBA team) alternate jerseys. The players still wear this jersey today. Here is the link: http://www.mtv.com/news/articles/1480965/mavericks-tap-p-diddy-design-jerseys.jhtml
- In 2007, Diddy and Diageo partnered to manage all branding and marketing initiatives for Ciroc Vodka together. Through this venture, Diddy was in charge of all the brand marketing strategies for Ciroc, while sharing 50 percent share of all profits. Here is the link for this alliance: http://www.nme.com/news/p-diddy/3203
- In 2008, Sean Jean buys Enyce clothing line from Liz Claiborne for $20 million. Here is the link: http://www.huffingtonpost.com/liz-black/enyce-sold-to-sean-john_b_136853.html
- In 2010, announced to develop a business school for entrepreneurs: http://www.aceshowbiz.com/news/view/w0000842.html (I wouldn’t mind enrolling!)
- In 2012 announced deal with Comcast to launch cable music network channel Revolt in 2013. A show targeted for the African-American audiences. He will own the channel outright. Here is the link: http://rapfix.mtv.com/2012/01/24/diddy-next-venture-music-themed-cable-network/
Here is a YouTube clip of the “BLACK JAMES BOND”: . Show’s P. Diddy on a more personal level.
Although some were obviously more profitable than others, I believe every single of these ventures contributed to the diversity and growth of his business portfolio as a businessman – making him the 2nd most successful and influential hip hop entrepreneur of 2012.
“I’m not just a celebrity endorser, I’m a brand builder. I’m a luxury brand builder” – P. Diddy
(Please tune in next time to find out this year’s #1 hip hop entrepreneur! Hint: Our #1 mainly invested in just one venture that proved to be very, very rewarding.)
By: Aaron Kim (Duke)
Other sources are provided within the post.