economie

Sean Combs’ once-lucrative business empire is drying up. Here’s where it stands.

October 9, 20240
Combs signed a partnership with Cîroc in 2007 that would go on to last more than 15 years.

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When Combs signed with Cîroc in 2007, he was one of the first celebrities to go into the booze business. As part of a deal with Cîroc’s parent company, liquor giant Diageo, he agreed to market the vodka in exchange for a cut of sales. Six years later, he formed a joint venture with the company, launching tequila brand DeLeón.

For years, the partnership was one of Combs’ most lucrative. In a filing last year, Diageo said it had paid him nearly $1 billion over the 15-year relationship.

But earlier this year, the relationship between Diageo and Combs came to an end. After a series of legal back and forths between the parties — and the first of many sexual assault lawsuits filed — the company severed ties with Combs.

“Mr. Combs is well-aware that these lawsuits make it impossible for him to continue to be the ‘face’ of anything,” Diageo lawyers wrote last year, pointing to the sexual assault claims that had begun to pile up.

He pocketed $200 million for his stake in DeLeón tequila and nothing for his longtime work with Cîroc. The nine-figure check is an impressive one-time sum, sure, but his cash cow went along with it.

Even if the relationship was ongoing, the money may not have lasted all that much longer, Spiros Malandrakis, the head of research in alcoholic drinks at Euromonitor, told BI.

“Most celebrity pairings tend to eventually lead to diminishing returns,” he said. “The scandals and most recent revelations would just be the proverbial cherry in an already toxic cocktail that was increasingly past its sell-by date.”

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Combs’ Sean John line was reportedly bringing in $450 in annual retail sales at one point.

Joe Kohen/WireImage

Combs’ clothing line Sean John helped drive one of his biggest paychecks. In 2016, he sold a majority stake in the business, which at that point included fragrance and furnishings, to Global Brands Group for a reported $70 million.

At the time, the brand was lauded for its staying power compared to other celebrity brands and was reported to be doing $450 million in annual retail sales. Combs maintained a minority stake in the label — one that would have led to a stream of annual paychecks had the partnership gone well.

But just five years later, Sean John was a shell of its former self. Global Brands Group had filed for bankruptcy, and Combs bought back the business for $7.55 million, just over 10% of what it was once worth.

That next chapter wasn’t a positive one. As the series of sexual assault lawsuits filed against Combs began, Sean John was approaching its demise.

Macy’s, the once exclusive home of the brand’s sportswear line, pulled the label last fall, though it’s unclear if it was due to the compounding lawsuits. Sean John’s Instagram page has been wiped clean, and its website no longer exists — nor does any cut of sales that Combs could be making.

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Mark Wahlberg and Sean Combs were part-owners of water brand Aquahydrate.

Jason Merritt/Getty Images for AQUAhydrate

While never exactly a huge money-maker, the alkaline water for which Combs was a brand ambassador and part owner — along with Mark Wahlberg and Jillian Michaels — has seemingly cut ties with the disgraced star.

Combs is no longer listed on the company’s website and has not appeared in any brand promotions for years. After an acquisition fell through in 2020, the water, which used to be sold at grocery stores and pharmacies nationwide, now seems to be sold mainly online, with the stockist page broken on its website.