Moet Hennessy buys 50% stake in Jay-Z’s champagne brand

Jay-Z, whose real name is Shawn Carter, gave the brand a boost in 2006, when it presented one of its bottles in a video clip after a public fight with Cristal, a rival brand. Carter accused Cristal of racism after a brand executive considered in an interview about whether partnering with a rapper would damage his image.

In 2014, Carter bought Armand de Brignac for an undisclosed amount. The brand sold more than 500,000 bottles worldwide in 2019.

Moet Hennessy President and CEO Philippe Schaus said Armand de Brignac breaks down barriers and reflects contemporary ideas of luxury, while supporting historic champagne-making traditions.

“We are extremely proud to partner with them,” said Schaus.

Carter said the partnership will help Armand de Brignac grow and flourish, looking at Moet Hennessy’s track record in developing luxury brands like Dom Perignon and Veuve Clicquot. Moet Hennessy is the wine and spirits division of the luxury products company LVMH.

“It’s a partnership that seemed familiar all the time,” said Carter.

Carter is one of several celebrities who profited from a partnership with an alcoholic beverage brand.

Actor George Clooney co-founded Casamigos, a tequila brand, in 2013. It was purchased by beverage giant Diageo in 2017 for $ 700 million. Last year, Diageo also bought Aviation American Gin, a brand owned by actor Ryan Reynolds, for $ 610 million.

Actor Dwayne “The Rock” Johnson recently launched a tequila brand called Teramana. Singer John Legend has his own wine label, LVE. And in 2018, singer Bob Dylan launched the whiskey brand Heaven’s Door.

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