Jay-Z and Dylan Jones attend the Armand de Brignac ‘A Style of Gold’ celebration hosted by Jay-Z and the editor of GQ Journal Dylan Jones, at Automat on July 2, 2008 in London, England.
Dave M. Benett | Getty Photographs Leisure | Getty Photographs
Moet Hennessy, the wine and spirits division of luxurious conglomerate LVMH, introduced Monday the acquisition of a 50% stake in rapper Jay-Z’s champagne model, Armand de Brignac.
Monetary phrases of the deal weren’t disclosed.
Jay-Z’s relationship with Armand de Brignanc began in 2006 with an look in his “Present Me What You Bought” music video earlier than the model formally launched later that 12 months. He had beforehand endorsed Cristal in his songs earlier than an government of the guardian firm made disparaging feedback about its function in hip-hop tradition. The rapper, whose given title is Shawn Carter, purchased Armand de Brignanc in 2014.
The model, which is thought by the nickname “Ace of Spades,” bought extra 500,000 bottles in 2019. With fewer events and nights out, the coronavirus pandemic has hit champagne gross sales. Trade commerce group Comite Interprofessionnel du Vin de Champagne estimated that champagne gross sales fell $1.2 billion, or 18% by quantity, final 12 months.