Mariah Carey Will Join The List Of Celebrities Who Have Made A Fortune Off Liquor Brands
"Truly a cause for celebration!!!" she said.
mariahcarey / goblackirish / Instagram On August 16th, Mariah Carey announced the project that she has apparently been working on for over two years — a cream liqueur called ‘Black Irish’.
The Christmas Queen said in a press release that she “wanted to create something that embodies the holidays and gives everyone a reason to celebrate year-round” while also celebrating her Black and Irish heritage.
Carey joins a long line of celebrities who have launched liquor brands so it may be a fool-proof venture.
7 celebrity liquor brands and their net worths.
Mariah Carey isn’t the first celebrity to join in on the lucrative liquor business that has made other celebrities millions, so we decided to name some of the people she now stands with.
1. George Clooney’s ‘Casamigos’ Tequila
Founded in 2013, Casamigos started as a side project for Clooney.
He and his friend, Rande Gerber, were building neighboring vacation homes in Cabo San Lucas, Mexico, and enjoyed local tequila brands together for months.
They finally decided that they wanted to make their own brand of tequila that they could give to their friends and family, and hired a local distillery to make it for them, adding Michael Meldman to the team.
What they didn’t expect was for the company to explode onto the scene and amount to a billion-dollar company.
In 2017, Clooney and co-founders sold the company to beer giant Diageo for $700 million dollars and stand to make another $300 million if profits continue along the trend they’ve been on for years now.
2. Ryan Reynold’s ‘Aviation’ Gin
Because Reynold’s enjoyed the taste of the ‘Aviation’ spirit so much, he purchased a stake in the gin company and became a co-owner in 2018.
“What I didn’t expect was the sheer creative joy learning a new industry would bring," he said. “Growing the brand with my company, Maximum Effort Marketing, has been among the most fulfilling projects I’ve ever been involved with."
Over a year ago, they made a deal with Diageo, the same company that purchased Casamigos, and sold the company for $610 million dollars.
According to a press release made by Diageo, Reynolds will retain "an ongoing ownership interest" in the company.
Reynolds and other shareholders will split an initial payment of $335 million and could stand to make another $257 million, if profits continue to rise over the next 10 years.
3. Bethenny Frankel’s ‘Skinnygirl’ Margaritas
Well-known entrepreneur who starred in “The Real Housewives of New York City,” Frankel first entered the liquor industry in 2009 with her release of pre-packaged, diet-friendly margaritas called Skinnygirl.
She quickly expanded the company after the success of the margarita line, adding low-calorie vodkas, ready-to-serve cocktails and different types of wine.
In 2011, Beam Global Spirits & Wine acquired the Skinnygirl spirits brand. The details of the deal weren’t made public, but Forbes estimated that Frankel took home $120 million on the sale.
According to CNN, she also retained the rights to use the Skinnygirl moniker for non-alcoholic products, launching products in the clothing, food and beauty spaces in recent years.
4. P-Diddy's ‘Ciroc’ Vodka and ‘DeLeón’ Tequila
The rapper turned entrepreneur has made several business dealings with liquor companies and made a fortune off of them.
Sean 'Puffy' Combs entered into a partnership with Diageo in 2007 on a 50-50 joint venture to help promote the Ciroc brand vodka across the United States.
Ciroc is well-known for being mentioned in songs by P. Diddy, Rick Ross, among other rappers, and has been successfully assimilated into the hip hop culture as the go-to drink.
In 2014, his partnership with Diageo brought him into another deal, purchasing the ‘DeLeón’ tequila company.
Shortly after this announcement, Forbes estimated that the ciroc deal has won him over $700 million dollars since 2007.
5. Jay Z’s ‘Armand de Brignac’ Champagne
The billionaire businessman, founder of Roc Nation, and historically acclaimed rapper Jay Z purchased the French champagne brand in 2014.
However, he showed his interest in the high-end brand much earlier in his career, helping to launch it with his music video for the song "Show Me What You Got."
In 2019, Forbes reported that the rapper's investment in the company amounts to $310 million, which might not be too surprising given that the brand is known for its $300 bottles of champagne.
Jay Z has also reportedly garnered $100 million from D’Ussé, a cognac joint venture he has with Bacardi.
6. Kendall Jenner’s ‘818 Tequila’
Founded by the supermodel and ‘Keeping Up With The Kardashians’ star, 818 Tequila was released in May but only in California, and was later rolled out to Nevada, Texas, New York, New Jersey, Georgia and Florida.
According to the company’s president, in the two months after the launch of Kendall Jenner’s 818 Tequila, the brand’s sales have already exceeded the figures forecast for its first two years of business.
“We’re actually tracking to be one of the most successful spirits launches, not even Tequila launches,” said Mike Novy, the president and chief operating officer of the company.
The brand bested initial sales from other Tequila brands from stars like LeBron James and George Clooney as well, according to an insider, though exact revenue is unknown.
Mariah Carey’s venture into the liquor industry feels a lot more sentimental than a simple business acquisition, but it’s likely to make waves and become a success.
Entering into the fall season where people like to start celebrating Christmas early, the cream liqueur is sure to fly off the shelves.
Isaac Serna-Diez is a writer who focuses on entertainment and news, social justice and politics.