LVMH buys 50% stake in Jay-Z’s champagne brand Armand de Brignac

Jay-Z and Dylan Jones succor the Armand de Brignac ‘A Taste of Gold’ celebration hosted by Jay-Z and the editor of GQ Journal Dylan Jones, at Automat on July 2, 2008 in London, England.

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Moet Hennessy, the wine and spirits division of luxury conglomerate LVMH, announced Monday the bewitch of a 50% stake in rapper Jay-Z’s champagne ticket, Armand de Brignac.

Financial phrases of the deal weren’t disclosed.

Jay-Z’s relationship with Armand de Brignanc started in 2006 with an appearance in his “Show cloak Me What You Got” tune video earlier than the ticket formally launched later that year. He had previously endorsed Cristal in his songs earlier than an govt of the father or mother firm made disparaging feedback about its feature in hip-hop tradition. The rapper, whose given establish is Shawn Carter, sold Armand de Brignanc in 2014.

The logo, which is legendary by the nickname “Ace of Spades,” equipped extra 500,000 bottles in 2019. With fewer occasions and nights out, the coronavirus pandemic has hit champagne gross sales. Industry switch team Comite Interprofessionnel du Vin de Champagne estimated that champagne gross sales fell $1.2 billion, or 18% by volume, final year.