Moët Hennessy has acquired a 50 percent stake in Champagne house Armand de Brignac, making the international luxury giant an equal partner with musician and entrepreneur Jay-Z. Financial terms of the deal were not disclosed but Moët Hennessy revealed that it would take over global distribution for the Champagne brand following the completion of the transaction.
“The strength of the Armand de Brignac brand and quality of its range of prestige cuvées will allow us to take the business to new heights across the world,” said Philippe Schaus, president and CEO of Moët Hennessy. Armand de Brignac has total volume of about 40,000 cases, according to Shanken News Daily, a sister publication of Wine Spectator.
“We are confident that the sheer power of the Moët Hennessy global distribution framework, its unparalleled portfolio strength, and its long-established track record of excellence in developing luxury brands will give Armand de Brignac the commercial power it needs to grow and flourish even further,” said Jay-Z.
With the new partnership, Armand de Brignac will sit alongside the likes of Veuve Clicquot, Moët & Chandon, Dom Perignon, Krug, and Ruinart in Moët Hennessy’s Champagne stable. For more on where Jay-Z’s brand will fit in the LVMH lineup, read the full story at Shanken News Daily.