Diddy's new fragrance is going to be called "Luxury Juice"

Diddy’s new scent, Unforgivable Multi-Platinum, will cost $65 for 2.5 ounces – $10 more than its predecessor Unforgivable.

However, Diddy believes the “luxury grade of juice” justifies the price tag.

The rapper told the USA Today newspaper: “In the world of fragrances, perfumes and colognes, the actual products we use are based on “the juice”.

There are different grades of “juice”. “This is the luxury version. I'm in the luxury lane now.”

Diddy says his latest fragrance will only be available for a limited period.

He explained: “I’m definitely attracted to something that won’t be around a long time.”

Although there was no suggestion that the bergamot and iris scented fragrance will be drinkable, Diddy compared the scent to a once-in-a-decade vintage wine.

The rapper also plans to launch a fragrance for women – Unforgivable Woman – which boasts notes of bergamot, as well as grapefruit and pina-colada.

Combs explained: “This is the woman that the Unforgivable man dreams about. She’s strong, a leader, sensual. She’s quiet. When you see her, you can’t stop thinking about her.”

Unforgivable Woman is set to hit the shelves this autumn.

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