Steve Stoute’s Economics

October 4th, 2011 - By TheEditor

(CNNMoney) — Many people might not recognize the name Steve Stoute. But they probably know his business partner — Grammy-winning rapper Jay-Z — and many of his clients — State Farm, Samsung, Hewlett-Packard and Reebok.  The 41-year-old entrepreneur is the founder and CEO of Translation LLC, an advertising, branding, marketing and consulting company. With Translation, Stoute has established himself as the go-to guy for Fortune 500 brands who want to partner with celebrities and rebrand their products.  Stoute has created ad campaigns featuring Beyonce for Tommy Hilfiger’s True Star fragrance and Justin Timberlake promoting “I’m lovin’ it” for McDonald’s. For companies, these pairings have reinvigorated their brands and attracted the coveted 12- to 24-year-old consumer market.  In his new book, “The Tanning of America: How Hip-Hop Created a Culture That Changed the Rules of the New Economy” (Gotham), Stoute offers advice on how businesses can recognize and gear their marketing efforts to what he calls “the tanning of America.”

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