fbpx
More

    Jay Z sold half of his ‘Ace of Spades’ champagne company to LVMH

    Business Inquiry

    Publish your article/ads on our website


    Jay-Z has sold half of its Armand de Brignac champagne brand – aka Ace of Spades – according to LVMH’s Moët Hennessy Louis Vuitton SE. Wall Street Journal. LVMH purchased a 50% stake in the emerging brand to help grow Armand de Brigac with the help of LVM’s global distribution network but the report did not provide any specific figures.

    Jai told Wall Street Journal The end of the move was driven by the expectations of their brand and the development of expertise already in place. “We were working really hard to maintain a brand that was growing faster than the staff we had and was bigger than some of the expertise we had,” he said. “We will not be one hundred in this 15 years.”

    He It has also been said that while global champagne sales are experiencing a slowdown due to the epidemic, now is the time that luxury brands have become more comfortable working with artists whose roots are in hip-hop. The story specifically cites Rihanna’s Fenty brand with LVMH, with plans to expand their Savage X Fenty line despite the closure of their joint luxury fashion house, and Gucci Mane, who recently made her name Has worked with the brand. As Jai said, “People are beginning to accept that these two worlds are a natural fit. In the beginning, it was not a natural fit. “

    Jest invested in Armand de Brignac in 2006 after an executive at Kristal’s parent company and wondered if the brand was being harmed by constant name-checking in hip-hop. It didn’t take long for hip-hop to turn on the crystal and Jay finally bought his partner in 2014. Now, LVMH hopes that engagement with hip-hop will provide a good factor that will bring new consumers to market. And grow the segment as the market grows.

    You can read the full story here.

    .

    Latest articles

    Related articles