February 22, 2021

Jay-Z sells half his champagne brand to LVMH

Paris (AFP) – LVMH, the world’s biggest luxury goods company, said on Monday it had agreed to buy 50 percent of Armand de Brignac, the champagne brand owned by rapper Jay-Z. 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 b…

source https://this.kiji.is/en/736583107892903936?c=648607265489716321

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