LVMH teams up with rap star Jay-Z to sell his Armand de Brignac Champagne brand
The deal creates alliance between the world of hip-hop and luxury as the Covid-19 pandemic saps sales of the festive wines
22 February 2021 - 19:34
Paris — LVMH’s Moet Hennessy has bought a 50% stake in Armand de Brignac, a Champagne producer owned by rapper Jay-Z, another sign of a close relationship between the luxury industry and hip-hop culture.
No financial terms were disclosed for Monday’s transaction. Armand de Brignac sold more than half a million bottles in 2019, prices of which run $300 and up...
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