LVMH‘s Moët Hennesy just announced a partnership with rapper-entrepreneur Shawn Carter aka Jay-Z, buying 50% of his Armand de Brignac brand.
Moët Hennesy poses as the world’s leader in luxury wines and spirit while Armand de Brignac rests as a leader in prestige champagnes, making this partnership a complimentary 50-50 deal where both brands can share their areas of mastery and strengths for growth and expansion.
Regarding the latest partnership, Jay-Z states: “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 Hennesy global distribution framework, its unparalleled portfolio strength and its long-established track record of excellence in developing luxury brands will give Armand de Brignanc the commercial power it needs to grown and flourish even further.“
The partnership’s essential element is the 50% stake in Jay-Z’s Armand de Brignac made by Moët Hennessy which will also be accompanied by a global distribution agreement.
Congratulations to both Moët Hennesy and Jay-Z on their business deal!
Images: @RavieB / Backgrid