Jay-Z Sells 50% Stake in Armand de Brignac Champagne to LVMH
Armand de Brignac will join an appealing roster that includes a list of legendary houses
Jay-Z has sold a 50% stake in his popular champagne house, Armand de Brignac, AKA Ace of Spades, to LVMH. The amount of the deal between the champagne house and Moët Hennessy is not made public yet.
After the deal with Jay-Z goes through, Moët Hennessy will handle the distribution of the Champagne that is produced in France’s Champagne region. The Champagne is produced after 12th and 13th generation winegrowers put in a lot of effort into the task. The 12th generation winegrower is Jean-Jacques Cattier, and the 13th generation winegrower is his son Alexandre.
When Jay-Z linked his name to the Champagne, it earned a high-rolling status among the world’s most popular celebrities. This should increase now as Moët Hennessy has a strong international network and possesses ample resources within Champagne.
A statement released by Jay-Z to the press reads, “We are confident that the sheer power of the Moët Hennessy global distribution framework, its unparalleled portfolio strength, and its long-established track record of excellence in developing luxury brands will give Armand de Brignac the commercial power it needs to grow and flourish even further.”
When the formalities of the partnership between Jay-Z and LVMH are complete, Armand de Brignac will join an appealing roster that includes a list of legendary houses such as Dom Perignon, Mercier, Veuve Clicquot and Ruinart, among many others.
Jay-Z has been closely associated with Armand de Brignac, AKA Ace of Spades, for years now. He used the brand’s bottles in his 2006 music video of “Show Me What You Got “.
LVMH is also doing fine financially, even in these tough times. In 2020, the brand and its staple of 23 houses brought about AUD 7.3 (About €4.8) billion of revenue. LVMH has also been doing a lot of collabs recently. It hooked up with Rhianna for the cosmetics line Fenty Beauty recently.
These collaborations like the one with Rhianna and Jay-Z are examples of how the CEO of LVMH, Bernard Arnault, is planning to expand and diversify the portfolio to get the attention of a wider clientele. Speaking of luxury, have you had a look at the all-new Porsche Taycan Cross Turismo yet?
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