LVMH Buys 50% Stake In Jay-Z’s Champagne Brand Armand De Brignac!
One thing about Jay Z, he’s always going to make a major move! This Monday, Moet Hennessy, the wine and spirits division of luxury conglomerate LVMH, announced the purchase of a 50% stake in rapper Jay-Z’s champagne brand, Armand de Brignac!
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While the financial terms of the deal, which was reported earlier by the Wall Street Journal, Financial Times, and New York Times, were not disclosed yet, the rap star and business mogul released a statement on the exciting partnership:
“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. It is a partnership that has felt familiar the entire time. 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,” Jay-Z said.
LVMH and Jay-Z said the investment, is aimed at growing Armand de Brignac through LVMH’s global distribution networks while drawing upon the conglomerate’s vast resources within Champagne wine country.
This marks a successful run for Jay with Armand de Brignac, who touted its “gold bottles of that Ace of Spade” in a 2006 music video before acquiring the company in 2014. Thanks to its creative marketing through hip-hop, the brand grew to sell 500,000 bottles in 2019, which are usually priced from $300 to $950 with specially made vintages costing $100,000.
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