Jay-Z sells half of his Champagne brand Armand de Brignac to LVMH, which owns Dom Pérignon and Moët & Chandon
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Jay-Z’s Champagne brand Armand de Brignac, also known as “Ace of Spades.” The terms of the deal were not disclosed.
Philippe Schaus, president and CEO of Moet Hennessy, in a release Monday. “Armand de Brignac breaks barriers and reflects contemporary luxury.”
LVMH is looking to make improvements with its brand identity and improve its marketing efforts. It had partnered with Rihanna on Fenty Fashion House, the first Black woman to lead an original brand with LVMH.
Jay-Z acquired the brand Armand de Brignac in 2014. The “Ace of Spades” bottle was used in a 2006 music video. The champagne was the choice for Kim Kardashian’s wedding to Kris Humphries.
According to an official announcement from the maisons, the new partnership will be anchored in the acquisition of a 50 per cent stake in Armand de Brignac by Moet Hennessy as well as in a global distribution agreement. “I’m proud to welcome the Arnault family into ours through this partnership that began with Alexandre Arnault and continued with his father Bernard Arnault and Philippe Schaus, at my home in Los Angeles.,” Jay-Z said.
The NYT reported that the partnership between the Jay-Z and the luxury company happened “very naturally,” and the two parties are eager to see how they can grow the famous brand’s notoriety along the other luxe champagnes from Dom Pérignon, Moët & Chandon, Ruinart, Krug, and Veuve Clicquot.
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