Luxury goods brand LVMH Moët Hennessy Louis Vuitton and Jay-Z have entered a partnership which will see LVMH acquiring 50% stake in Armand de Brignac, Jay-Z’s Champagne line known as Ace of Spades.
The financial details of the deal was not made public.
Jay-Z bought Armand de Brignac in 2014 for an undisclosed sum in 2014. The brand sold more than 500,000 bottles worldwide in 2019.
“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. Often referred to as “Ace of Spades”, Armand de Brignac breaks barriers and reflects contemporary luxury, while preserving the traditions of the Champagne terroirs. Today, we are incredibly proud to be partnering with them and believe that the combination of our Champagne experience and international network coupled with Shawn JAY-Z Carter’s vision, the strength of the Armand de Brignac brand and quality of its range of prestige cuvées will allow us to take the business to new heights across the world,” says Philippe Schaus, President & CEO of Moët Hennessy.
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“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,” says Shawn JAY-Z Carter.
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.
