Jay-Z toasts with Lvmh
The French group takes over its champagne through Moet Hennecy
The French luxury giant LVMH has reached an agreement for the purchase - through Moet Hennesy - of 50% of the champagne brand Armand de Brignac owned by the famous American rapper and music producer Jay-Z, pseudonym of Shawn Corey Carter. This was confirmed by the group, after early rumors from the Wall Street Journal. In addition to the purchase of the shareholding, the transaction also includes the resumption of worldwide distribution of Armand de Brignac products.
"We have reached an agreement on an equal basis with Jay-Z and his family", said Philippe Schaus, managing director of Moet Hennesy.
Registered by Jean-Jacques Cattier and his son Alexandre, respectively tenth and eleventh successor of the well-known Cattier family (which has been producing champagne since 1763), the Armand de Brignac brand has officially seen the light since 2006, when the first bottles left the cellars of Paris and landed in the market. And from there it underwent unprecedented growth that allowed it to sell over 500,000 bottles all over the world in 2019. Part of his success, however, he owes indirectly and directly to the rapper.
In 2006, in fact, before its official launch, champagne was the undisputed star of the video for the song Show me what you got. An appearance that, if on the one hand caused a series of criticisms against Jay-Z, nevertheless allowed Armand de Brignac to gradually become one of the most requested champagne by the elite and beyond.
In late 2014, Sovereign Brands, a company owned by the Berish family, decided to sell its stake to a company owned by Shawn Corey Carter.
EFA News - European Food Agency