Armand de Brignac sold more than half a million bottles, prices of which run $300 and up, in 2019. Jay-Z has sold a 50 percent stake in his champagne brand Armand de Brignac to Moët Hennessy Louis Vuitton (LVMH). After lockdowns ease, pushing the champagne, which is also known as Ace of Spades, through Moet Hennessy’s existing sales channels could make the company worth considerably more. I'm the "highest ranking African-American owner of a luxury goods product, so there's plenty [of] room to go from here. LVMH, the world's biggest producer of Champagne, has taken a 50% stake in Armand de Brignac, the high-end Champagne brand owned by Jay-Z, … The filing follows months of leaks and reports that the marriage between the two celebrities was on the rocks. United States retail sales surged 5.3 percent in January, surpassing analysts’ expectations. We can't forbid people from buying it.". The deal is the fruit of connections between Jay-Z and Alexandre Arnault, the 28-year old son of LVMH’s billionaire founder, Bernard Arnault. Alexandre has been taking a bigger role at the conglomerate, recently being named to help run Tiffany & Co., which became part of LVMH last month. For American music mogul Jay-Z Armand de Brignac sold more than half a million bottles in 2019, prices of which run $300 and up. The rapper, 51, is just one of the many celebrities who have launched their own … Moet Hennessy is acquiring a 50% stake in rapper and entrepreneur Jay-Z’s Champagne brand in an effort to up its cool factor and expand distribution. The brand is set to gain from the luxury-marketing expertise and distribution network of LVMH just as the Champagne industry reels from the pandemic. Terms of the deal, which was announced on Monday (US time), weren’t released. Jay-Z's champagne brand, known informally as Ace of Spades, had been "a fantastic success", Moet Hennessy CEO Philippe Schaus said in a joint statement with Jay-Z. Its Moet Hennessy unit bought a 50% stake in Armand de Brignac, the champagne maker that rapper Jay-Z has owned since 2014, for an undisclosed sum. Carter also partnered with Armand de Brignac with a 50% stake in the brand (terms of the deal have not been disclosed). Dave M. Benett | Getty Images Entertainment | Getty Images, Jay-Z on teaming up with Moet on his luxury champagne brand Armand de Brignac, How a family of four lives paycheck to paycheck on $83K a year in Hilo, Hawaii, Stimulus checks are based on your adjusted gross income — here’s how to find it, Doomsday preppers stock up on survival kits, emergency food and luxury bunkers. In 2014, Carter bought the remaining stake of Armand de Brignac for an undisclosed amount, making him the first rapper to own outright a champagne label. (Champagne connoisseurs agree that … Jay-Z bought the "Ace of Spades" brand in 2014. The champagne … And today, "yes, today is a happy day and I feel very vindicated," Carter told "Squawk Box" of the LVMH deal. Jay-Z and LVMH LVMUY 0.68% Moët Hennessy Louis Vuitton SE are joining forces in the Champagne business, further cementing the alliance between the world of … “Armand de Brignac breaks barriers and reflects contemporary luxury, while preserving the tradition of the Champagne terroirs,” Philippe Schaus, chief executive officer of LVMH’s Moet Hennessy drinks unit, said in a statement. A Division of NBC Universal. The rapper initially bought the Armand de Brignac brand, also … Moët Hennessy Louis Vuitton bought 50% of premium Champagne company Armand de Brignac, which is owned by entertainer and businessman Jay-Z. The rap star has been an investor in the brand since 2006, when he touted the brand, known for its Ace of Spades logo on a metallic silver bottle, in a video for “Show Me What You Got.” Jay-Z bought out Sovereign Brands’s stake in the company in 2014. "It wasn't this plan to build this big media company," he said on CNBC's "Squawk Box" on Monday, referring to Roc Nation, which in 2019 was worth an estimated $75 million. A champagne brand owned by Jay-Z is to be expanded with help from LVMH. … Celebrity brands are not a new phenomenon. The rapper threw an Oscars party last year where guests like Kanye West and Jack Dorsey could sip his Armand de Brignac Champagne. New York (CNN Business) Jay-Z and luxury goods giant LVMH have a reason to break out the bubbly. PARIS — It seems that Jay-Z is having the last laugh in the Champagne battles. Jay-Z recently struck up a deal with Moët Hennessy (Picture: Getty) Jay-Z seems to have struck gold with his recent deal on his champagne Armand de Brignac, with it … Fifteen years after founding his Armand de Brignac prestige range following a … It was announced today, via The New York Times, that the best-selling rapper has sold 50 percent of his champagne … LVMH scraps $16bn takeover of US jeweller Tiffany, Biden’s $1.9 trillion COVID aid bill stalls in US Senate, 737 MAX declared emergency after engine stall, safely lands, US, EU to suspend tariffs in Boeing-Airbus dispute, Wealthy Americans fare better in the pandemic, new survey shows, ‘History in the making’ as Pope Francis meets Iraq’s Shia leader, Pope to visit ancient city of Ur, ‘the cradle of civilization’, ‘Kill them’: Duterte wants to ‘finish off’ communist rebels, Pakistani PM Khan wins vote of confidence amid opposition boycott, Al Jazeera Centre for Public Liberties & Human Rights. Schaus said Jay-Z’s involvement had helped broaden the appeal of champagne. The brand sold more than 500,000 bottles in 2019, according to CNBC reported. LVMH’s Moet Hennessy has bought a 50% stake in Armand de Brignac, a Champagne producer owned by rapper Jay-Z, another sign of a close relationship between the luxury industry and hip-hop culture. LVMH might then consider buying Jay-Z’s remaining 50% interest at that more generous valuation. All Rights Reserved. Terms of the deal, which was announced Monday, weren’t released. The Wall Street Journal and Financial Times previously reported Monday’s deal. The same year, Carter featured bottles of Armand de Brignac champagne — known as "Ace of Spades" due to its label — in his "Show me What You Got" music video. On Monday, Shawn "Jay-Z" Carter sold a 50% stake in his Armand de Brignac champagne brand to luxury goods conglomerate LVMH for an undisclosed amount. It has never been purely about the taste. Similarly, Carter got into the champagne game because he thought he had no other choice. ", The best credit cards for building credit of 2021, This NFL agent secures multimillion-dollar contracts for athletes—here’s her best negotiating advice, LVMH buys 50% stake in Jay-Z’s champagne brand Armand de Brignac, Get Make It newsletters delivered to your inbox, Learn more about the world of CNBC Make It, © 2021 CNBC LLC. Jay-Z and luxury goods giant LVMH have a reason to break out the bubbly. Jay-Z has sold 50 per cent of his luxury champagne brand to Moët Hennessy Louis Vuitton (LVMH).. Financial terms were not disclosed. "Armand de Brignac breaks barriers and reflects contemporary luxury, while preserving the traditions of the Champagne terroirs," he said. About 100,000 bottles of Armand de Brignac – often referred to as “Ace of Spades” due to its logo – are produced each year by Cattier. Moët Hennessy has bought a 50% stake in Jay-Z’s fancy champagne brand Ace Of Spades. The luxury conglomerate announced earlier this month it was suspending its collaboration with Rihanna for the Fenty fashion brand, less than two years into that venture. Armand de Brignac, known familiarly as … According to a release, Jay-Z’s bubbly has been a hit in North America, Asia and Europe, with over 500,000 bottles sold in 2019. In 2014, Carter bought Armand de Brignac for an undisclosed sum. Music video by Jay-Z performing Show Me What You Got. Jay-Z’s cultural and business connection to Champagne is longstanding. LVMH, which owns Dom Pérignon and Moët & Chandon, has taken a 50% stake in Jay-Z’s Champagne … But Carter didn't initially set out to create his own high end champagne business, or even his entertainment company, Roc Nation. When asked by The Economist if an association with rap could hurt Cristal, Rouzaud said: "That's a good question, but what can we do? 3 min read. On Monday, Shawn “Jay-Z” Carter sold a 50% stake in his Armand de Brignac champagne brand to luxury goods conglomerate LVMH for an undisclosed … Jay-Z, who like other rappers and hip-hop artists frequently mentions Cristal in his lyrics, has also banned the cult cuvée from his ‘upscale sports lounge’, the 40/40 Club, replacing it with Dom Pérignon and Krug. Jay-Z and Dylan Jones attend the Armand de Brignac 'A Taste of Gold' party hosted by Jay-Z and the editor of GQ Magazine Dylan Jones, at Automat on July 2, 2008 in London, England. He previously ran Rimowa after persuading LVMH to acquire the German suitcase brand. LVMH ‘s recent acquisition of JAY-Z‘s Armand de Brignac champagne brand has been valued at roughly $630 million USD by Forbes. Jay Z has been promoting this brand of champagne ever since. No financial terms were disclosed for Monday’s transaction. Una bebida producida en la región francesa de Champagne por un padre y un hijo viticultores de 12va y 13va generación. The US hip-hop community is set to boycott luxury Champagne Cristal after rapper Jay-Z accused the boss of Champagne house Louis Roederer of racism. Forbes declared Jay-Z a billionaire in 2019. Armand de Brignac sold more than half a million bottles, prices of which run $300 and up, in 2019. Jay-Z also stated, “It is a partnership that has felt familiar the entire time.” The coronavirus pandemic has hampered champagne sales as people are having fewer parties and nights out. He had been a fan of Cristal, helping to elevate it to an aspirational brand among hip-hop fans. But Carter boycotted the brand. Terms of the deal were not disclosed. Tasting Jay Z’s Champagne Jay Z increased his ownership stake in Armand de Brignac Champagne, nicknamed ‘Ace of Spades’, in 2014 after buying out Sovereign Brands. According to the report, the champagne … The market shrank by a fifth last year amid delays and cancellations to weddings and other celebrations. But America still has a "long way to go towards inclusivity," he says. The wine and spirits division of French luxury giant LVMH said it’s buying 50 per cent of the music mogul’s champagne line – which is popularly known as Ace of Spades due to the brand’s logo. Shawn Carter, nombre real de Jay-Z, compró Armand de Brignac, conocida como Ace of Spades, en 2014. LVMH bought half of Jay-Z's champagne brand, Armand de Brignac. Financial terms of the deal were not disclosed. ‘Kimye’ split: Kim Kardashian files for divorce from Kanye West, Top India court halt’s tycoon Mukesh Ambani’s retail deal: Report, Shopping spree: US retail sales jump most in seven months, No breakfast? But in 2006, Frederic Rouzaud, then managing director (now CEO) of the Champagne Louis Roederer winery, which is the maker of Cristal, made comments that Carter considered racist.