Celebrity News
Moët Hennessy Buys Half Of Jay-Z’s Business
He’s a business, man! Brooklyn legend Jay-Z has a lot to celebrate this week. The rapper’s champagne company, Armand de Brignac (Ace of Spades), has been bought into by Moet Hennessy. The luxury wine and spirit powerhouse acquired 50% stake of Hov’s boozy business, in hopes of solidifying the bubbly as an iconic brand.
In regards to the new partnership, Jay-Z says:
“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.”
The deal not only includes the 50% acquisition, but a global distribution deal as well. Go Hov!
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