Moet Hennessey is acquiring 50% stake in rapper and entrepreneur Jay-Z’s champagne brand in an effort to help boost and expand distribution. The news was made public on Monday. – By Sharon Maina.
In 2006 Shawn Carter gave the brand a boost where he featured one of the bottles in a music video after a public fall out with a rival brand Cristal. Shawn accused Cristal of racism after an executive from the brand said in an interview or rather he asked whether partnering with the rapper would harm its image.
Shawn said that the partnership will help Armand de Brgnac grow and flourish, adding that Moet is known for developing brands like Veuve Clicquot and Dom Perignon .Moet Hennessey is the wines and spirit division of luxury goods company LVMH.
In 2014 Jay-z bought Armand for an amount that is not known to the public and since he took over the brand has sold over 500,000 bottles worldwide in 2019 .
The Moet CEO said that Armand de Brignac reflects ideas of luxury, even as it supports historic champagne-making traditions.
“It is a partnership that has felt familiar the entire time.” said Jay Z.
Over the years many celebrities have released their own alcohol brands in 2018 Bob Dylan launched a whiskey brand called Heaven’s door. Sometime last year The Rock released a whiskey brand called Teramana, Actor George Clooney together with Ryan Reynolds co-founded a tequila brand in 2013 called Casamigos, and John Legend has his own wine label called LVE.