Jay-Z and Dylan Jones attend the Armand de Brignac ‘A Taste of Gold’ get together hosted by Jay-Z and the editor of GQ Magazine Dylan Jones, at Automat on July 2, 2008 in London, England.
Dave M. Benett | Getty Images Entertainment | Getty Images
Moet Hennessy, the wine and spirits division of luxurious conglomerate LVMH, introduced Monday the acquisition of a 50% stake in rapper Jay-Z’s champagne brand, Armand de Brignac.
Financial phrases of the deal weren’t disclosed.
Jay-Z’s relationship with Armand de Brignac began in 2006 with a 50% stake in the brand and an look in his “Show Me What You Got” music video earlier than it formally launched later that 12 months. He had beforehand endorsed Cristal in his songs earlier than an government of the mum or dad firm made disparaging feedback about its position in hip-hop tradition. The rapper, whose given title is Shawn Carter, purchased the remaining half of Armand de Brignac in 2014.
The brand, which is thought by the nickname “Ace of Spades,” bought greater than 500,000 bottles in 2019. With fewer events and nights out, the coronavirus pandemic has hit champagne gross sales. Industry commerce group Comite Interprofessionnel du Vin de Champagne estimated that champagne gross sales fell $1.2 billion, or 18% by quantity, final 12 months.