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Tags: lvmh | moet hennessy | jay-z | armand de brignac | champagne

LVMH's Moet Hennessy Buys In to Rap Star Jay-Z's Champagne Brand

jay-z in a black jacket and white top and green and black hat
Jay-Z (Greg Allen/AP)

Monday, 22 February 2021 09:34 AM

LVMH's Moet Hennessy is buying a 50% stake in rap star Jay-Z's Armand de Brignac champagne brand, the latest luxury brand to try to broaden its appeal with a celebrity tie-up.

"I'm proud to welcome the Arnault family into ours through this partnership," the "Empire State of Mind" singer said in a statement, referring to the family that runs LVMH.

Financial terms of the deal, which was reported earlier by the Wall Street Journal, Financial Times and New York Times, were not disclosed.

Historic luxury brands around the world have struck partnership deals with celebrities, seeking to appeal to younger customers, with Jay-Z's pop star wife Beyonce already involved in the Ivy Park sportswear brand.

Last year, cosmetics company Coty agreed to buy a 20% stake in reality TV star Kim Kardashian West's makeup brand KKW, although earlier this month LVMH put on hold its Fenty fashion venture with pop star Rihanna.

© 2021 Thomson/Reuters. All rights reserved.


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LVMH's Moet Hennessy is buying a 50% stake in rap star Jay-Z's Armand de Brignac champagne brand, the latest luxury brand to try to broaden its appeal with a celebrity tie-up. "I'm proud to welcome the Arnault family into ours through this partnership," the "Empire State of...
lvmh, moet hennessy, jay-z, armand de brignac, champagne
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2021-34-22
Monday, 22 February 2021 09:34 AM
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