LVMH, the luxury-brand conglomerate, has bought a half-share in a Champagne company owned by rapper/businessman Jay-Z.
Armand de Brignac, started by Jay-Z in 2006, claims to have sold half a million bottles of its eponymous Champagne, nicknamed “Ace of Spades,” in 2019. The acquisition of a 50% share by LVMH will presumably provide synergy with Moët Hennessy (the MH in LVMH – the LV stands for Louis Vuitton) and the company’s other brands of high-end alcohol.
Terms of the deal were not available. The partnership will be accompanied by a global distribution agreement.
“Often referred to as ‘Ace of Spades,’ Armand de Brignac breaks barriers and reflects contemporary luxury, while preserving the traditions of the Champagne terroirs,” Moët Hennessy CEO Philippe Schaus said in a statement. “Today, we are incredibly proud to be partnering with them and believe that the combination of our Champagne experience and international network coupled with Shawn Jay-Z Carter's vision, the strength of the Armand de Brignac brand and quality of its range of prestige cuvées will allow us to take the business to new heights across the world.”