Louis Vuitton Moët Hennessy (LVMH) has bought a half-share in a Champagne company Armand de Brignac owned by rapper and businessman Jay-Z.
Started by Jay-Z in 2006, Armand de Brignac claims to have sold half a million bottles of its "Ace of Spades". champagne in 2019.
The 50 percent share acquisition is seen providing synergy with Moët Hennessy and the luxury-brand conglomerate’s other high-end alcohol brands.
The partnership will have a global distribution agreement.
According to Moët Hennessy CEO Philippe Schaus, their Champagne experience and international network coupled with Jay-Z's vision, the strength of the Armand de Brignac brand, and quality of its range of prestigious cuvées will bring their business to new heights.
