Tanzanian music star and entrepreneur Diamond Platnumz has built an empire beyond the music industry, dabbling in multiple business ventures.
However, one of his most ambitious projects, Diamond Karanga, a peanut-based business, ultimately shut down due to overwhelming challenges.
In a recent media interview, Diamond revealed the factors that led to the downfall of his nut business, citing supply chain struggles, high demand that outpaced production, and logistical hurdles.
"When we started, I told my business partner to be prepared because I have a huge fan base. But some business people don't believe in the power of an artist's brand," Diamond stated.
The entrepreneur-turned-mogul explained that his brand influence worked in his favor initially, driving massive demand for Diamond Karanga.
However, his business partner underestimated this demand, producing only 4,000 boxes per day, far less than what the market required.
"The launch was a success, and the impact was huge. But then we started facing problems, demand was higher than our production capacity. We also had issues sourcing raw materials like sugar," he disclosed.
Additionally, he revealed that some distributors forced customers to purchase other products before they could access Diamond Karanga, leading to frustration among buyers.
With production constraints and supply chain failures mounting, Diamond had no choice but to end the partnership and move on to other business ventures.
This isn't the first time the Number One hitmaker has faced business setbacks.
He previously launched a clothing line and a gaming shop, both of which failed due to financial and operational difficulties.
However, his perseverance led to the success of his music label, WCB Wasafi, and his media company.
Despite the collapse of Diamond Karanga, Diamond Platnumz is not giving up on entrepreneurship.
He recently launched his soap brand and announced plans to introduce a washing powder line
