Jay-Z has recently announced a collaboration with LVMH’s Moet Hennessy, which has bought a 50-percent share in Armand de Brignac, in order to expand the rap singer’s champagne brand. Forming a close relationship between the luxury industry and hip-hop culture, both parties aim to take the champagne brand to a global distribution platform.
Jay-Z, given name Shawn Carter, announced the partnership on Monday for an unrevealed sum. The partnership will capitalize on Moet Hennessy’s vast international network, as well as its resources within the Champagne region.
Jay-Z x LVMH
Moet Hennessy bought the shares of Armand de Brignac, however, no financial details have been disclosed. The brand sold over half a million bottles in 2019, prices of which run above of $300. Given the track record of excellence in developing luxury brands, LVMH’s unparalleled portfolio will give Armand de Brignac the commercial power it needs to grow and flourish, worldwide.
The president and CEO of Moet Hennessy, Philippe Schaus, says the collaboration will take the business to new levels of success across the world. And as LVMH is the world’s biggest producer of Champagne and currently oversees a variety of legendary houses, the recent partnership is sure to reap success for both parties.
Armand de Brignac
The 51-year-old rap star has been an investor in the brand since 2006, when he advertised the brand in a video for “Show Me What You Got.” In 2014, Jay-Z purchased the shares of Sovereign Brand in the company. Known for its Ace of Spades logo on glittery metallic bottles, Armand de Brignac is sure to advance from the luxury-marketing expertise and distribution network of LVMH just as the industry recovers from the effects of the pandemic.
The market shrank by a fifth in 2020 amid delays and cancellations to weddings and other celebratory occasions. LVMH, whose brands include Moet & Chandon Champagne and Hennessy Cognac, outperformed, while wine and spirit sales dropped by 14-percent.