Business

LVMH acquires 50% of the shares in Jay-Z’s champagne model Armand de Brignac

Jay-Z and Dylan Jones attend Armand de Brignac’s “A Taste of Gold” party hosted by Jay-Z and GQ Magazine Editor Dylan Jones on July 2nd, 2008 in London, England.

Dave M. Benett | Getty Images Entertainment | Getty Images

Moet Hennessy, the wine and spirits division of luxury conglomerate LVMH, announced Monday that it had bought a 50% stake in the champagne brand from rapper Jay-Z, Armand de Brignac.

Financial details of the transaction were not disclosed.

Jay-Z’s relationship with Armand de Brignanc began with an appearance on his music video “Show Me What You Got” in 2006, before the brand was officially launched later that year. He had previously endorsed Cristal in his songs before a parent company executive made derogatory comments about his role in hip hop culture. The rapper, whose first name is Shawn Carter, bought Armand de Brignanc in 2014.

The brand, known by the nickname “Ace of Spades”, sold more than 500,000 bottles in 2019. With fewer parties and evenings, the coronavirus pandemic has affected champagne sales. The industrial trading group Comite Interprofessionnel du Vin de Champagne estimated that champagne sales fell by USD 1.2 billion or 18% vol last year.

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