Jay-Z is today a very successful businessman as LVMH’s Moët Hennessy has announced it has bought a 50 per cent take the rap mogul’s striking champagne Armand de Brignac.
Jay-Z bought Armand de Brignac from Sovereign Brands in 2014 and expanded its demand, selling 500,000 bottles in 2019, which are usually priced from US$300 to US$950, with specially made vintages costing US$100,000. It is the only champagne available in a 30-litre ‘Midas’ bottle.
“For years we have been following the fantastic success of Armand de Brignac and admiring their ability to challenge some of the rules of the Champagne category. Often referred to as ‘Ace of Spades’, Armand de Brignac breaks barriers and reflects contemporary luxury, while preserving the traditions of the Champagne terroirs. Today, we are incredibly proud to be partnering with them and believe that the combination of our Champagne experience and international network coupled with Shawn Jay-Z Carter’s vision, the strength of the Armand de Brignac brand and quality of its range of prestige cuvées will allow us to take the business to new heights across the world,” Philippe Schaus, President and CEO of Moët Hennessy, said in a statement.
Jay-Z is a billionaire who also part-owns D’Ussé cognac in a joint venture with Bacardi, in addition to Roc Nation in partnership with Live Nation, as well as artworks by Jean-Michel Basquiat. He has homes in Los Angeles, the Hamptons and Tribeca, and has million-dollar stakes in companies from Uber to Robinhood.
“I’m proud to welcome the Arnault family into ours through this partnership that began with Alexandre Arnault and continued with his father Bernard Arnault and Philippe Schaus, at my home in Los Angeles. It is a partnership that has felt familiar the entire time. We are confident that the sheer power of the Moët 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,” said Jay-Z.
The 50 per cent stake in Armand de Brignac by Moët Hennessy includes a global distribution agreement, although the financial terms of the agreement were not disclosed.
“We are going into this partnership on equal terms together with Jay-Z and his family and with the same conviction that we are only at the beginning of a wonderful story. Together, we will lay a strong path forward to firmly cement Armand de Brignac as a luxury icon for current and future generations of customers,” added Schaus.