50 Cent Takes On Diddy & Jay-Z, Teams W/ Chris Lighty For New Cologne

G-Unit leader 50 Cent has reportedly partnered with Lighthouse Beauty to launch a new cologne, Power By 50 Cent, which will debut later this year.

Fif will become the company’s first official fragrance launch and be handled by Violator Management head Chris Lighty.

Set to debut at Macy’s stores, Power by 50 Cent is the first launch for the newly formed Lighthouse Beauty, which is comprised of artist managers at Brand Asset Management, the celebrities they represent, and developers and distributors of luxury fragrances. Lighthouse Beauty is helmed by Lighty, Howard Sherman of Mod Beauty, Philip Zellner of Product King Marketing, World Source Marketing Group, 111 Design and Edge Display, and Glenn Nussdorf, a major shareholder of Parlux, Perfumania and Quality King. (Women’s Wear Daily)

Lighty has weighed in his thoughts on Fif’s new business venture and the company’s overall goal.

“The typical musician or actor might not know much about developing a fragrance or a skin care line, but he definitely wants to capitalize on his brand potential,” said Lighty, chief executive officer of Brand Asset Group and founder of Violator Management. “After spending years bringing clients to major corporations to forge partnerships, I wanted to take that synergy to the next level by establishing a destination for artists and celebrities to create and distribute their brands from start to finish. What we?ll do at Lighthouse Beauty is not only transform a name into a product, but also take that product from its inception to the shelves.” (Statement)

In addition to competing with Diddy‘s I Am King cologne, the rapper will also face competition from Jay-Z and Kanye West who recently inked fragrance deals.

Jay-Z, Rihanna and Kanye West all got fragrance deals when Iconic Fragrances, LLC (where Jay-Z is a principal) signed an agreement with Parlux. Also part of the contract is the announcement of an upcoming scent with a “well-established female artist.” Considering it’s Jay-Z’s deal and he’s married to Beyonce, let’s read between the lines on that one. (New York Magazine)

Rapper-turned-actor Common also announced his own cologne earlier this year.

Inspired by visionary artists, icons and rebels, Only The Brave is a fragrance about seizing opportunities and making a difference. Only The Brave boasts the determination and strength to overcome adversity and make a mark. Common’s song “The 6th Sense” fully embodies the spirit of Only The Brave. Exploring what motivates a man and the challenges he faces, the song and the artist behind it encompass the qualities that make a brave man–determination, perseverance and principle. (Press Release)

No further information on when the product’s release date will be has been announced as of yet.

[For more on your favorite rappers from the Big Apple peep SOHH NYC]