Louis Vuitton Moët Hennessy has acquired half ownership of Jay-Z’s Ace of Spades champagne brand
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Jay-Z is popping more bottles with his latest business move.
The hip-hop mogul and luxury goods giant LVMH are 50/50 partners in his popular champagne brand Armand de Brignac, also known as “Ace of Spades.”
On Monday, the brand’s official Twitter page made the announcement of the pact, referencing a “shared vision” between both entities.
LVMH, which stands for Louis Vuitton Mo 1/4 u00ebt Hennessy, is the French empire that owns high-end champagne brands such as Dom Pérignon and Mo 1/4 u00ebt & Chandon.
The terms of the deal were not disclosed.
The rapper, who was born Shawn Corey Carter, famously boycotted Cristal in 2006 after the company’s head Frederic Rouzaud made disparaging remarks about the champagne’s popularity within the hip-hop community.
Jay-Z used his influence to launch Armand de Brignac, and featured the signature “Ace of Spades” bottle in the 2006 music video for “Show Me What You Got.” With prices ranging between $300 and $64,999, for a 30-liter Midas bottle, the business-savvy Brooklyn native acquired the brand in 2014.
According to a statement, Jay-Z said LVMH (which seemingly has an all-white leadership team) “will give Armand de Brignac the commercial power it needs to grow and flourish even further.”
Jay-Z also owns the cognac brand, D’Ussé, with Bacardi.
