Mr. 305 is at it again.
Latino hip-hop sensation Pitbull was named partner in a venture giving the Miami-based artist a significant stake in The New Miami Subs Grill restaurant chain.
The partnership was announced during an invitation-only cocktail party held at the Shelbourne South Beach hotel in Miami Tuesday night.
A South Florida icon in the 1980s and early 90s, the restaurant boasted over two hundred shops at its peak and 170 stores in 2001. But after being sold off by founder Gus Boulis in 1998, the brand suffered considerably, and the number of shops is currently down to 38. Its fast-casual approach is best known for its Philly cheese steaks, wings and gyros.
CEO Richard Chwatt said the company is excited to welcome Pitbull into its executive team and Board of Directors. Restaurant group executives, ultimately, believe that bringing in the 31-year-old Miami native into the mix will help boost the restaurant chain’s brand as they look to expand both here and abroad, as well.
“As one of the top global artists of our time, with a powerful viral fan base, Pitbull will certainly make The New Miami Subs Grill the franchise brand to watch in 2012 and 2013,” remarked Executive Partner Dieuveny Louis.
In an interview with The Miami Herald, Pitbull, whose real name is Armando Christian Perez, said he grew up loving the restaurant. He also said he wrote many of his songs and met with his lawyer at the chain’s Washington Avenue Miami Beach location.
“It’s about two Miami brands being able to grow together. Where we can take it is limitless,” the artist said in an interview.
Pitbull has long been regarded for his involvement in different business ventures, inking major sponsorship deals with brands like Dr. Pepper and Bud Light.
The native Miamian even owns his very own brand of vodka. At five different flavors, Voli Light Vodka is made with natural fruit with one-third the calories of leading brands, its website boasts. He also has a partnership with Sheets, a dissolvable energy strip manufactured by PureBrands, LLC based out of Boca Raton, FL.
Last year, the star was one of the key figures at the Hispanic Retail 360 Summit held in La Jolla, Calif., where he was called a “brilliant businessman and marketer,” by PureBrands, LLC CEO Warren Struhl.