Jay-Z sells half his champagne model to LVMH
The corporate stated the acquisition — for an undisclosed sum and made via its Moet Hennessy drinks division — additionally concerned a distribution deal and would kick off a partnership reflecting a “shared imaginative and prescient” between the singer and the corporate.
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Jay-Z’s champagne model, identified informally as Ace of Spades, had been “a unbelievable success”, Moet Hennessy CEO Philippe Schaus stated in a joint assertion with Jay-Z.
“Armand de Brignac breaks limitations and displays up to date luxurious, whereas preserving the traditions of the Champagne terroirs,” he stated.
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Jay-Z, quoted within the assertion, stated “it’s a partnership that has felt acquainted the complete time”, including he was assured that “the sheer energy of the Moet Hennessy international distribution framework, its unparalleled portfolio power and its long-established observe document of excellence in creating luxurious manufacturers will give Armand de Brignac the business energy it must develop and flourish even additional”.