Rap star Jay-Z has sold 50 percent of his Champagne brand Armand de Brignac to French luxury goods company LVMH. The CEO of Moët Hennessy, Philippe Schaus, says that Armand de Brignac has succeeded in opening up new customer groups for high-priced champagnes. He said people had been watching the development for years, fascinated by how Jay-Z had managed to break out of some of the rigid rules of the category.
According to several reports, Moët Hennessy will also take over responsibility for the worldwide distribution of the brand, also known as Ace of Spades.
At its peak in 2019, between 500,000 and 900,000 bottles of the brand were said to have been sold mainly in the US, including in the artist and entrepreneur's own clubs.
Jay-Z stated that he hoped Moët Hennessy's entry would give the brand a better chance of moving forward outside the US.
Created in 2006, the brand is known for its special metallic-coated bottles, the entry-level Champagne, the Armand de Brignac Ace of Spades Brut Gold, retails for about €290.