News – UK – LVMH acquires 50% of the shares in Jay-Z’s champagne brand Armand de Brignac

0
1

Moet Hennessy, the wine and spirits division of luxury conglomerate LVMH, announced on Monday the purchase of a 50% stake in rapper Jay-Z’s champagne brand Armand de Brignac

Jay-Z’s relationship with Armand de Brignanc began with an appearance on his music video “Show Me What You Got” in 2006, before the brand was officially launched later that year, having previously endorsed Cristal in his songs before becoming an executive The rapper, whose first name is Shawn Carter, bought Armand de Brignanc in 2014

. The parent company made derogatory comments on his role in hip-hop culture

The brand, known by the nickname “Ace of Spades”, sold more than 500 in 2019000 bottles With fewer parties and evenings, the coronavirus pandemic has affected champagne sales The industrial trading group Comite Interprofessionnel du Vin de Champagne estimated sales of champagne at USD 1.2 billion or 18 vol -% in the last year

Data is a real-time snapshot * Data is delayed by at least 15 minutes Global business and financial news, stock prices and market data and analysis

LVMH, champagne, Jay-Z, Armand de Brignac, wine

News – GB – LVMH acquires 50% of the shares in Jay-Z’s champagne brand Armand de Brignac

Source: https://www.cnbc.com/2021/02/22/lvmh-buys-50percent-stake-in-jay-zs-champagne-brand-armand-de-brignac.html