Jay-Z isn’t just a businessman. He’s business, man.
And the mogul continues to highlight why by way of savvy entrepreneurial moves.
The latest centers on Armand de Brignac, his luxury champagne brand.
For, market leader Moët Hennessy has announced its purchase of a 50% stake in the company.
Full story below…
The news, trumpeted moments ago, touts the partnership as reflecting a shared vision between Moët Hennessy and Jay-Z (real name Shawn Carter) for the future of the iconic Maison.
Philippe Schaus, President & CEO of Moët Hennessy said in a statement:
“For years we have been following the fantastic success of Armand de Brignac and admiring their ability to challenge some of the rules of the Champagne category. Often referred to as “Ace of Spades”, Armand de Brignac breaks barriers and reflects contemporary luxury, while preserving the traditions of the Champagne terroirs. Today, we are incredibly proud to be partnering with them and believe that the combination of our Champagne experience and international network coupled with Shawn JAY-Z Carter’s vision, the strength of the Armand de Brignac brand and quality of its range of prestige cuvées will allow us to take the business to new heights across the world.”
“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”
Armand De Brignac is one of many successful businesses in HOV’s portfolio, which includes entertainment juggernaut Roc Nation and Monogram.