Jay-Z is continuing to move his international brand.
According to the New York Times, Jay-Z and the company that owns Dom Pérignon and Moët & Chandon, LVMH, are joining forces. LVMH has taken a 50 percent stake in Jay-Z’s Champagne brand Armand de Brignac. The terms of the deal are purportedly not closed.
In 2014, Jay purchased Armand de Brignac, also known as Ace of Spades. The brand has sold more than 500,000 bottles in 2019, according to the Associated Press.
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Moet Hennessy President and CEO Philippe Schaus said in a statement, “We are incredibly proud to be partnering with them.”
Jay-Z also stated, “It is a partnership that has felt familiar the entire time.”
The coronavirus pandemic has hampered champagne sales as people are having fewer parties and nights out. Sector trade ……
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