Luxury beverage giant LVMH Moët Hennessy has acquired a 50% stake in Jay-Z’s champagne brand, Armand de Brignac.
Armand de Brignac — which is widely known as “Ace of Spades” due to its logo — was launched by French Champagne company, Cattier, in 2006, then purchased by a company led by Jay-Z in 2014. A press release touted the brand as a “worldwide success” that sold over 500,000 bottles in 2019.
The new deal with Moët Hennesy (which is itself one-half of the gigantic French luxury conglomerate LVMH) involves a 50-50 ownership split as well as a global distribution agreement. Moët Hennessy also looks after other well-known champagne brands including Dom Pérignon and Krug.
While neither Jay-Z’s team nor LVMH disclosed financial terms of the transaction, The New York Times pointed out that some clues may be found in the rapper’s own lyrics: According to a Jay-Z verse on Meek Mill’s 2018 “What’s Free,” Ace of Spades is worth “half a B,” which would value a 50% stake at $250 million.
“I’m proud to welcome the Arnault family into ours through this partnership that began with Alexandre Arnault and continued with his father [LVMH CEO] Bernard Arnault and Philippe Schaus, at my home in Los Angeles,” Jay-Z said in a statement. “It is a partnership that has felt familiar the entire time. We are confident that the sheer power of the Moët Hennessy global distribution framework, its unparalleled portfolio strength and its long-established track record of excellence in developing luxury brands will give Armand de Brignac the commercial power it needs to grow and flourish even further.”
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“We are going into this partnership on equal terms together with Jay-Z and his family and with the same conviction that we are only at the beginning of a wonderful story,” said Schaus, president and CEO of Moët Hennessy. “Together, we will lay a strong path forward to firmly cement Armand de Brignac as a luxury icon for current and future generations of customers.”
The Armand de Brignac deal is the latest in a long line of non-musical ventures that Jay-Z has been focused on in recent months. Back in December, the rapper’s Roc Nation announced a partnership with Random House to launch a new publishing imprint, Roc Lit 101, that will publish its first titles later this year. And last October, Jay-Z launched his first marijuana line, Monogram, which was borne out of a partnership with the California-based cannabis company, Caliva.