News – EN – LVMH offers 50% of Jay-Z’s champagne

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Rapper Jay-Z at the Budweiser Made in America Music Festival in April 2015 – Frederick M Brown – Getty Images North America – AFP

LVMH intends to strengthen its offer in champagne by offering itself a house that is admittedly recent but very popular since it was created by the American hip-hop star, Jay-Z Enough to establish a new bridge between the luxury sector and the world of rap

The Wall Street Journal announces that the French luxury group, the world’s largest producer of champagne, has taken a 50% stake in Armand de Brignac, the high-end brand owned by Jay-Z The amount of the transaction was not specified

This investment, LVMH and Jay-Z said, aims to develop Armand de Brignac across LVMH’s global distribution networks while leveraging the conglomerate’s vast resources within the wine region of champagne

For LVMH, while sales of champagne fell by 20% in France last year due to the pandemic, allying with a rap star makes it possible to attract more customers. young and more diverse Rihanna and LVMH have thus launched a line of cosmetics, Fenty Beauty, a brand that was nevertheless discontinued a few weeks ago. Rapper Gucci Mane and his eponymous brand, Italian fashion house Gucci, collaborated on a collection

Finally, the WSJ specifies that the agreement was born of discussions between Jay-Z and Alexandre Arnault, the 28-year-old son of French billionaire Bernard Arnault, managing director and shareholder majority stake in LVMHJay-Z has said he plans to collaborate with LVMH on other projects in the future

LVMH, Champagne, Jay-Z, Armand de Brignac, Moët & Chandon

News – FR – LVMH offers 50% of Jay-Z’s champagne
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Source: https://www.bfmtv.com/economie/lvmh-s-offre-50-du-champagne-de-jay-z_AN-202102220256.html