Jay Z Teams Up With LVMH’s Moët Hennessy Who Buy 50% Of Ace Of Spades
23 Feb 2021
Jay Z has successfully more turned himself from rapper to billionaire businessman and that success is set to continue after he announced a partnership with luxury brand LVMH’s Moët Hennessy.
The deal will see Moët Hennessy buy 50% of Jay Z’s Champagne brand, Armand de Brignac or as it’s more commonly known as Ace of Spades.
Jay-Z acquired a 50 percent stake in Armand de Brignac in 2006, debuting the bubbly in his “Show Me What You Got” music video before it launched that year. The remaining half of Armand de Brignac was bought by him in 2014.
Hov explained his reasoning for the partnership highlighting Moet Hennessy’s track record of developing luxury brands like Dom Perignon and Veuve Clicquot.
“It is a partnership that has felt familiar the entire time. We want the brand to outlast all of us …We don’t cut corners or lean on fame to sell the product. We’ve built it through passion and integrity.”
Moët Hennessy President and CEO Phillipe Schaus said: “What we could bring to the brand, which is already very successful, is the sheer power of our international distribution network.”
“We are incredibly proud to be partnering with them.”
If you miss popping Ace Of Spades bottles in the club check out Boris Johnson’s 4 step roadmap to get us out of lockdown.