LVMH Now Co-Owns Jay-Z?s Champagne Brand, Armand de Brignac
Nicknamed as Ace of Spades, the chart-topping rapper?s champagne will now join the ranks of LVMH?s Dom Pérignon, Moët & Chandon and Veuve.
The post LVMH Now Co-Owns Jay-Z?s Champagne Brand, Armand de Brignac appeared first on LUXUO.
Image Credit: Getty Images
French conglomerate LVMH?s Moët Hennessy has bought out a 50% stake of rapper Jay-Z?s champagne brand, Armand de Brignac as reported by the New York Times. At the moment, the financial terms were not disclosed to the public.
The multi-hyphenate artiste has been a staunch supporter of the brand since 2006, and he will often give shoutouts to the champagne?s nickname, ?Ace of Spades? inside his raps. In 2019, about 500,000 bottles were sold across different markets such as Europe, North America and Asia.
View this post on Instagram A post shared by Armand De Brignac Champagne (@armanddebrignac)
?We had been following its success over the last few years and we thought, this is crazy. Most Champagne brands see very modest growth, and he was just shooting up through the ranks,? said Philippe Schaus, CEO of Moet Hennessy?s drinks division.
It?s not a surprise that last year was a tough year for many sectors, the champagne industry saw its sales dropped by a fifth as many events such as weddings, celebrations, and the closures of restaurants all contributed to the decline.
It was also reported that the deal was brought to fruition by the connection Jay-Z has with Alexa...
The post LVMH Now Co-Owns Jay-Z?s Champagne Brand, Armand de Brignac appeared first on LUXUO.
Image Credit: Getty Images
French conglomerate LVMH?s Moët Hennessy has bought out a 50% stake of rapper Jay-Z?s champagne brand, Armand de Brignac as reported by the New York Times. At the moment, the financial terms were not disclosed to the public.
The multi-hyphenate artiste has been a staunch supporter of the brand since 2006, and he will often give shoutouts to the champagne?s nickname, ?Ace of Spades? inside his raps. In 2019, about 500,000 bottles were sold across different markets such as Europe, North America and Asia.
View this post on Instagram A post shared by Armand De Brignac Champagne (@armanddebrignac)
?We had been following its success over the last few years and we thought, this is crazy. Most Champagne brands see very modest growth, and he was just shooting up through the ranks,? said Philippe Schaus, CEO of Moet Hennessy?s drinks division.
It?s not a surprise that last year was a tough year for many sectors, the champagne industry saw its sales dropped by a fifth as many events such as weddings, celebrations, and the closures of restaurants all contributed to the decline.
It was also reported that the deal was brought to fruition by the connection Jay-Z has with Alexa...
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