by Christopher Freeburn | November 22, 2013 10:08 am
Global distiller Diageo (DEO) is partnering with the National Basketball Association (NBA) to promote its premium vodkas.
The multi-year kicks off during the current season and will see Diageo increase its TV advertising during NBA games as the league’s exclusive sponsor for spirits. The company will also market its Crown Royal and Ciroc brands at NBA and NBA Development league events, AdAge notes.
Musician Sean “Diddy” Combs, who has led Diageo’s brand management strategy for Ciroc since 2007, will coordinate the brand’s promotion across the NBA. The goal is to make Ciroc “The Toast of the NBA.”
Under the deal, Diageo will promote its Bailey’s brand at WNBA events.
Earlier this week, Diageo’s CEO told reporters that the company did not need to acquire rival distiller Beam (BEAM) in order to grow its whiskey business in North America.
Shares of Diageo fell modestly in Friday morning trading.
Source URL: https://investorplace.com/2013/11/diageo-signs-deal-nbas-exclusive-spirits-sponsor/
Short URL: http://invstplc.com/1nyDFp5
Copyright ©2018 InvestorPlace Media, LLC. All rights reserved. 700 Indian Springs Drive, Lancaster, PA 17601.