Jay-Z Sells 50% Shares Of Armand De Brignac To Moët Hennessy
Photo: Raven B.
Moët Hennessy announces a partnership with Shawn “Jay-Z” Carter via the acquisition of 50% of Champagne Armand de Brignac. Jay-Z has sold 50% of his champagne brand Armand De Brignac (Ace of Spades) to Moët Hennessy, owned by LVMH for an undisclosed amount. Jay-Z bought the brand in 2014 and sold over half a million bottles in 2019.
In a statement released via press release with CNBC, Jay-Z talks about the decision to make a fifty-fifty deal, citing Moët's credibility and brand power. "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."
Philippe Schaus, President & CEO of Moët Hennessy, spoke on the partnership. "We are going into this partnership on equal terms together with JAY-Z and his family and with the same conviction that we are only at the beginning of a wonderful story," he states. "Together, we will lay a strong path forward to firmly cement Armand de Brignac as a luxury icon for current and future generations of customers."
Check out the press release shared by Roc Nation below.
