Iconic rapper, Shawn JAY-Z Carter sells a 50% stake in Armand de Brignac, his prestige champagne to Moët Hennessy, the world leader in luxury wines and spirits.
The wine and spirits division of French luxury giant LVMH said it is purchasing 50 percent of the music mogul’s Champagne line which is popularly known as “Ace of Spades.”
With its striking look and natural appeal to a global and diverse luxury consumer, Jay Z’s Armand de Brignac champagne has brought unprecedented innovation and energy to the champagne category since 2006. It has been a worldwide success with a strong presence in North America, Asia, and Europe, and over 500 000 bottles sold in 2019, in particular with an outstanding position in the high energy channels.
In a statement to the press, Jay Z says “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.”
Moët Hennessy president Philippe Schaus said of the new Armand de Brignac deal in a statement, “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.” He said the line “breaks barriers and reflects contemporary luxury while preserving the traditions of the Champagne terroirs.”
The partnership will be anchored in the acquisition of a 50% stake in Armand de Brignac by Moët Hennessy as well as in a global distribution agreement. The 50%-50% structure is an essential element of this alliance and ensures that each of the two partners wants to bring its strengths and expertise.