Moet Hennessy, the wine and spirits division of luxury conglomerate LVMH, announced Monday the purchase of a 50% stake in rapper Jay-Z’s champagne brand, Armand de Brignac.
The company said the purchase, for an undisclosed sum and made through its Moet Hennessy drinks division, also involved a distribution deal and would kick off a partnership reflecting a “shared vision” between the singer and the company.
Jay-Z’s champagne brand, known informally as Ace of Spades, had been “a fantastic success”, Moet Hennessy CEO Philippe Schaus said in a joint statement with Jay-Z.
“Armand de Brignac breaks barriers and reflects contemporary luxury while preserving the traditions of the Champagne terroirs,” he said.
Jay-Z, quoted in the statement, said “it is a partnership that has felt familiar the entire time”, adding he was confident that “the sheer power of the Moet 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”.
Financial Times reported that Jay-Z said Moët Hennessy was the “natural partner” to take Armand de Brignac to “the next level of taste and distribution”.
According to the New York Times, the deal was originally discussed in 2019 and seems to be strengthened, at least in part, by the friendship between the rapper superstar and Alexandre Arnault, the son of LVMH founder and chairman Bernard Arnault.
“I’ll send him a photo of something going on with me or he’ll send me a photo,” Jay-Z told the New York Times. “It’s super natural, super chill. I view him as a person of high integrity. Always keeps his word, very punctual. These are some of the qualities I have myself.”
Jay-Z’s relationship with Armand de Brignac started in 2006 with a 50% stake in the brand and debuted in his “Show Me What You Got” music video before it officially launched later that year. He had previously endorsed Cristal in his songs before an executive of Louis Roederer made disparaging comments about its role in hip-hop culture. The rapper bought the remaining half of Armand de Brignac in 2014.
– The Guardian