Armand de Brignac/Moët Hennessy
Jay-Z has been known for more than his catchy lyrics and legacy in making profit off of activities and the will to survive. Coining the phrase “I’m not a businessman. I am a business, man.,” his ethic has been proving that a renowned fact.
In his recent endeavor, Jay-Z, real name Shawn Carter, announced early Monday that he’s entered into a major deal with global Luxury giant LVMH in a strategic collaboration to catapult his high-end champagne brand Armand de Brignac worldwide. Selling a %50 stake in his brand, the goal is said to take the the brand known as “Ace of Spade” to new heights. The Armand de Brignac brand was established in 2006. Making a huge splash onto the Champagne scene easily attracting eyes with it’s catchy Gold bottle. With a price tag between $300 and $950, the Champagne has vintages that date back to the mid 1900’s being priced up to $100,000 a bottle. Carter has been involved with the brand since its beginning stages, debuting the flashy gold bottle in his 2006 video, “Show Me What You Got.” Beginning with a 50 percent stake, he acquired the brand fully in 2014 creating a heightened buzz for the brand up to selling half a million bottles in 2019 across the globe.
The amount of the sale is undisclosed, but will be well worth it as LVMH is the leader of luxury across the Globe with intellectual experience in the Bubbly department with 23 houses collectively pulling in about $5.8 billion in revenue last year amidst the global pandemic. In a statement, Carter stated “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.”