West Coast rap kingpin Snoop Dogg has taken his spirit for booze and business for a dive into the business of spirits. The 43-year-old entertainment icon has just signed a partnership deal with Brazilian cachaça maker, Cuca Fresca, as a brand ambassador and shareholder.
Partnerships like these helped Snoop become a veteran on FORBES annual list of Highest-Paid Hip-Hop Artists. This past year, we estimate that he pulled in $10 million in earnings, ranking him at No. 14. Much of that amount comes from concert sales and cameo fees, but the rapper has shilled a wide range of products, from Hot Pockets and Adidas to Happy Socks and Airbnb. Recently, he became an investor in Reddit.
In a culture that glamorizes partying and booze, the trend of rapper-endorsed alcohol brands is nothing new: Pitbull has a deal with Budweiser , Ludacris with Conjure cognac, Diddy with Diageo’s Ciroc vodka, and Birdman with GT Vodka.
But Cuca Fresca is a much smaller, family-owned brand that is recognized mostly in Brazil — and Snoop is making a strategic bet that there’s a lot to profit in the Brazilian beverage business.The artisanal cachaça maker has already won several top honors in the spirits industry. Currently, it is the only cachaça with a ready-to-drink Caipirinha cocktail on the market.
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Cachaça, for those unfamiliar with Brazil’s national spirit, is made from sugarcane juice and tastes similar to a cross between rum and tequila. According to a PcW report, the distilled liquor accounted for 80% of all spirits consumed in Brazil this year (that’s equivalent to 80 million nine-liter cases).
Since the 2014 World Cup, cachaça has been showing up in bars and restaurants across New York City, which means there is tremendous potential to catapult both the brand in the U.S. — and Snoop, being the consummate businessman, never loses the opportunity to be the face of a future trend.
“I love to keep the good vibes going, whether I’m with my friends or rockin’ a club as DJ Snoopadelic, and Cuca Fresca does that,” Snoop told FORBES. His fondness for the country also made the partnership a natural fit: “I fell in love with the Brazilian culture and people when I was in Rio de Janeiro shooting my music video for “Beautiful.”
See more on Forbes.com: http://www.forbes.com/sites/vannale/2014/10/29/smart-move-snoop-dogg-makes-bets-big-on-small-brazilian-spirit-brand/
Syndicated by Lisandra Maioli