Manatt Entertainment Leader Jordan Bromley was quoted in Billboard discussing the recent emergence of celebrities in the alcohol industry and how these ventures advance their business goals.
The most recent star to enter the space is international icon Beyoncé with SirDavis whisky, which debuted in August as an extension of Beyoncé’s Cowboy Carter album. While Bromley said there are inherent risks involved with this type of deal, it can be exceptionally profitable.
“This should be a tentpole of any icon’s business portfolio, and not just in liquor but home goods, athletic goods or venues,” Bromley said. “You’re not stressing out over a record label audit—which you should do every five or 10 years—because you’re a 20% owner in a billion-dollar company.”
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