Jay-Z just made another power play and just revealed that he sold a 50 percent stake in his Champagne brand, Armand de Brignac, to Moet Hennessy.
Armand de Brignac, also known as Ace of Spades because of its luxurious bottle design, is produced in France’s Champagne region by a father and son who are 12th and 13th generation winegrowers.
Hov first brought the spirit into the hip-hop arena in 2006 when he started showcasing it in videos and songs following his public fallout with Cristal. The Reasonable Doubt creator accused the company of being racist after an executive said in an interview that he wasn’t particularly fond of having his brand associated with rappers.
The Roc Nation boss bought 50 percent of Armand de Brignac in 2006 and the remaining half in 2014 for an undisclosed sum.
— Roc Nation Sports (@RocNationSports) February 22, 2021
Moet Hennessy President and CEO Philippe Schaus told The Associated Press that Armand de Brignac breaks barriers and reflects contemporary ideas of luxury, even as it supports historic Champagne-making traditions. “We are incredibly proud to be partnering with them,” Schaus said.
Moet Hennessy is the wine and spirits division of luxury goods company LVMH. Schaus further commented on the partnership to CNBC, stating, “What we could bring to the brand, which is already very successful, is the sheer power of our international distribution network.”
“It is a partnership that has felt familiar the entire time,” the hip-hop mogul explained to The AP. “We want the brand to outlast all of us …We don’t cut corners or lean on fame to sell the product. We’ve built it through passion and integrity.”
The champagne sold more than 500,000 bottles worldwide in 2019.