Jay-Z Sells 50% of His Champagne Label to LVMH

Jay-Z Sells 50% of His Champagne Label to LVMH

Jay-Z Sells 50% of His Champagne Label to LVMH

The French giant will control part of the artist and entrepreneur’s brand Armand de Brignac.

The French giant will control part of the artist and entrepreneur’s brand Armand de Brignac.

Text: Luana Harumi

Hip-hop and luxury have been connected for quite a while and now there’s another addition to that relationship: Moët Hennessy, LVMH’s wine and spirits division, has just acquired a 50% stake in Armand de Brignac, Jay-Z’s champagne label. 

“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,” Jay-Z said in a press statement. “It is a partnership that has felt familiar the entire time.”

Jay-Z has been a long-time champagne enthusiast. He purchased Armand de Brignac – also known as “Ace of Spades” because of its bottle designs – in 2006 with a partner, revealing the rebranding in that same year’s “Show Me What You Got” video. The brand also got a nod in 2014’s “We Made It Freestyle,” the year the rapper gained full control of the label. 

Courtesy of Armand de Brignac.

“For years we have been following the fantastic success of Armand de Brignac and admiring their ability to challenge some of the rules of the Champagne category,” Moët Hennessy president and CEO Philippe Schaus said in the statement. “Armand de Brignac breaks barriers and reflects contemporary luxury, while preserving the traditions of the Champagne terroirs.”

The news comes less than two weeks after LVMH announced it would shut down Rihanna’s Fenty chapter (the singer is represented by Jay-Z’s Roc Nation). The French conglomerate seems to be counting on a champagne pick-up by luxury consumers after a steep dip in sales caused by the past year's closing of bars and clubs, and basically the overall lack of parties and celebrations – events closely associated with consumption of the bubbly beverage. 

The partnership also includes a global distribution agreement, with both parts having equal powers over the brand. Although the financial terms of the deal remain secret, Jay-Z did reference Armand de Brignac’s value in Meek Mill’s 2018 track “What’s Free”: “I’m 50 percent of D’Ussé and it’s debt-free, 100 percent of Ace of Spades, worth half a B.” Is this concrete evidence? Probably not, but one can't help but wonder.

Credits: Cover photo courtesy of Armand de Brignac.

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