Queen Latifah Partners With New York Spring Water, Inc.


QueenQueen Latifah seems to be following in the footsteps of fellow rapper 50 Cent–at least on the business investment front. The singer/hip hop entrepreneur/actress has just invested in the New York based beverage company New York Spring Water Inc.
Under the new partnership with Latifah´s Flavor Unit Entertainment, the company is spearheading a global expansion. Flavor Unit Entertainment is now part owner in the business and will help create the company’s strategic mission to expand internationally.
While the details on the amount of Flavor Unit’s capital investment are still undisclosed, New York Spring Water Inc. President and CEO Richard Zakka says that the company actively pursued Latifah and that she was the only celebrity investor they considered. He says, he wanted to partner with her because “We are both winners.” Flavor Unit co-owner and co-founder Shakim Compere said in a press statement, “Latifah and I are really excited about this partnership. New York Spring Water is an innovative company and is definitely at the forefront of new product developments in the industry.”
One product the company hopes to great a worldwide sensation with is Industry VBlast!, currently their most popular product. VBlast! stores liquid vitamins in the cap of each bottle that are released when opened.
In 2007, 50 Cent reportedly made $100 million-plus when he sold his Vitamin Water drink, Formula 50 to Coca-Cola. The soft-drinks giant paid $4.1 billion to beverage company Glaceau, in which 50 Cent invested in 2004.
According to sales stats, in 2004, Americans spent $9 billion on bottled water. And the flavored water category, as of 2007, was the fastest-growing segment of the still-beverage category. In 2002, flavored, or enhanced, water sales were at $245 million, a major increase from an estimated $80 million spent the year before.