L’chaim!
JAY-Z is sharing his of Armand de Brignac with LVMH.
On Monday (Feb. 22), the rap billionaire announced he has sold 50% of his ownership of the lavish champagne to LVMH Moët Hennessy Louis Vuitton, reports the New York Times.
The new partnership allows the French luxury goods company to appeal to a younger, more diverse clientele while giving the Roc Nation founder an increased presence in an old, elite, European industry.
“We were always looking to grow this brand,” said Jay-Z, “and this happened very naturally. Just the idea of this partnership is a signal to a more diverse way of looking at things,” Jay-Z said of LVMH.
Also known by the name “Ace Of Spades”, the high-priced bubbly valued at $300+ per bottle, was acquired by JAY-Z in 2014 from New York-based wine and spirits company Sovereign Brands for an undisclosed amount. In 2006, he debuted the bubbly in his “Show Me What You Got” video before its official launch.
JAY-Z also has part ownership of D’Ussé cognac with Bacardi, which launched in 2012.
Last year, JAY-Z launched the cannabis brand, MONOGRAM and formed the publishing imprint, Roc Lit 101. Most recently, he was nominated for the 2021 Rock & Roll Hall Of Fame. And the winner is…