Jay-Z and LVHM team up in 50% percent ownership each of Jay-Z’s champagne brand Armand De Brignac, known as “Ace of Spades.”
“I’m not a businessman, I’m a business, man.”
In 2005, rapper Jay-Z dropped a verse on Kanye West’s “Diamonds of Sierra Leone” that said, “I’m not a businessman, I’m a business, man.” At no time has that statement been more true than it is today. And every day since making that statement, Jay-Z has been adding to his business legacy.
As reported by The Source, Jay-Z announced a 50-50 partnership with LVHM for his “Ace of Spades” brand Armand De Brignac champagne. Moet Hennessy is the wine and spirits division of luxury conglomerate LVMH.
Appearing on “Squawk Box” on CNBC, Jay Z stated –
“We built Armand from the ground up, you know we want to do things right, integrity of it had to be right.”
“When we build luxury products, whether it be Roc Nation or Monogram…Moet Hennessey goes about it the same way.”
Due to the on-going pandemic, sells of champaign and other alcohols fell in 2020. However, “Ace of Spades” sold half a million bottles in 2019. Expecting a full recovery of liquors in the coming years, Jay-Z and LVHM look forward to a very successful partnership for years to come.
We’ll drink to that!
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