By Matthew Roscoe • 24 February 2021 • 11:31
Rapper Jay-Z Secures Huge New Partnership With Moët Hennessy.
WORLD renowned rapper and entrepreneur Jay-Z has sold a 50 per cent stake of his Armand de Brignac champagne brand (Ace of Spades) to LVMH Moët Hennessy Louis Vuitton’s drinks business.
In an announcement tweet from Roc Nation, the exact nature of the deal was revealed: “Shawn JAY-Z Carter is pleased to announce a partnership with Moët Hennessy as they acquire a 50 per cent stake in Armand de Brignac,” it reads. “The partnership reflects a shared vision between Moët Hennessy and Shawn JAY-Z Carter for the future of this iconic Maison.”
In a statement revealed via press release, Jay-Z opened up about his decision to strike a fifty-fifty deal, citing Moët’s existing credibility and enduring 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,” he explains.
“I’m proud to welcome the Arnault family into ours through this partnership,” the 51-year-old rapper concluded.
Philippe Schaus, President and CEO of Moët Hennessy, also shared a few words 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.”
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Originally from the UK, Matthew is based on the Costa Blanca and is a web reporter for The Euro Weekly News covering international and Spanish national news. Got a news story you want to share? Then get in touch at [email protected]
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