The wine and spirits section of the LVMH Brand announced yesterday that ot purchased a 50% stake in multibillionaire and rapper, Jay Z’s champagne brand – Armand de Brignae.
The sale is expected to start a partnership between the singer and the company. The CEO of Moet Hennessey, Philippe Schaus described the partnership as a fantastic success.
Jay Z also described the partnership as a familiar one adding that Moet Hennessy’s track record of excellence will give the Champagne the commercial boost it needs to grow.
According to close sources, the partnership had been brewing for years and was fuelled by a friendly relationship between the son of the LVMH founder, Alexandre Arnault and due to their close similarities.
