LVMH Buys 50% Share In Jay-Z's Champagne Brand
Provided By - Video Elephant on February 23, 2021
Jay-Z has sold 50% of his luxury champagne brand Armand de Brignac to LVMH.
The partnership “reflects a shared vision” between Jay-Z and LVMH “for the future of this iconic Maison”.
The rapper bought a 50% stake in the brand in 2006 and then bought the other half in 2014.
Jay-Z said that he started having conversations with LVMH about a deal in 2019.
One bottle of Armand de Brignac rut Gold retails for $300.
The brand, also known as “Ace of Spades”, sold over 500,000 bottles in 2019.
What we could bring to the brand, which is already very successful, is the sheer power of our international distribution network, Philippe Schaus, LVMH CEO.