Moët Hennessy announces partnership with Jay-Z’s Champagne brand
Louis Vuitton Moët Hennessy well known as LVMH has announced that it has signed a partnership agreement with Armand de Brignac, a Champagne brand owned by American Hip-hop star, Jay-Z.
The partnership will be anchored in the acquisition of a 50% stake in Armand de Brignac by Moët Hennessy.
Philippe Schaus, the President & CEO of Moët Hennessy, in his statement, said: “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.”
This partnership means that the partnership agreement, Armand de Brignac was wholly owned by Jay-Z, as he increased his stakes in the Champagne brand to 100%, with the acquisition of Sovereign Brand stakes.
The partnership is expected to grow Armand de Brignac through LVMH’s global distribution networks, as the brand is expected to leverage the conglomerate’s vast resources within the Champagne wine market segments. It comes at a difficult moment for Champagne.