LVMH And Jay-Z Announce New 50% Partnership In Ace Of Spades Champagne: Why Investing In Bubbles Makes Sense
French conglomerate LVMH has announced it has taken a 50% stake in rapper-mogul Jay-Z’s Champagne house, Armand de Brignac. Popularly known as ‘Ace of Spades’ for the vibrant metallic bottles that house the bubbles, the Champagne brand showed strong momentum in pre-pandemic times, selling over 500,000 bottles in 2019.
The partnership also gives Moët Hennessy a global distribution agreement. The French conglomerate has several marquee wines and spirits under its umbrella, including Dom Perignon, Veuve Clicquot, Krug and Château d'Yquem. The deal arrives on the footsteps of recent news that LVMH had paused Rihanna’s Fenty ready-to-wear collection.
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