Moet Hennessy buys 50% stake in Jay-Z’s Champagne brand
(AP) Moet Hennessy is acquiring a 50% stake in rapper and entrepreneur Jay-Z’s Champagne brand in an effort to up its cool factor and expand sales. Terms of the deal weren’t released Monday.
Jay-Z, whose real name is Shawn Carter, acquired Armand de Brignac in 2014. The brand, produced in France’s Champagne region, is known familiarly as Ace of Spades because of its distinctive label.
Moet Hennessy President and CEO Philippe Schaus said Armand de Brignac breaks barriers and reflects contemporary ideas of luxury.
Carter said the partnership will help Armand de Brignac grow and flourish.