The US rapper Jay-Z has sold half of his shares in the champagne brand Armand de Brignac – to the French luxury goods group LVMH, which has the famous champagne brands Moet & Chandon and Dom Perignon in its portfolio. LVMH will also be responsible for global sales for Armand de Brignac, LVMH manager Philippe Schaus announced today. A purchase price was not mentioned. Jay-Z said the new partnership “felt familiar all along.”
Jay-Z bought the small winery in Champagne, France, in 2014. He had already discovered the premium brand – served in characteristic metal bottles with an ace of spades logo and therefore also called Ace of Spades – in 2006 and presented it to the public in his music video “Show Me What You Got”. Around 500,000 bottles were sold worldwide in 2019 – in 2020 sales collapsed due to the pandemic.
Jay-Z is the first rap billionaire in history. He is married to R&B diva Beyonce.
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JayZ sells champagne business LVMH