Moet Hennessy is getting a 50% stake in rapper and entrepreneur Jay-Z’s Champagne new in an attempt to up its cool factor and expand earnings
Moet Hennessy is getting a 50% stake in rapper and entrepreneur Jay-Z’s Champagne new in an attempt to up its cool factor and expand supply.
Conditions of the agreement, which was announced Monday, were not released.
Jay-Z, whose actual name is Shawn Carter, gave the new boost in 2006 when he included among the bottles at a music video following a public fallout with Cristal, a rival new. Carter accused Cristal of racism following an executive order for the newest mused in an interview about if Dealing with a rapper would harm its own image.
In 2014, Carter purchased Armand de Brignac at 2014 for an undisclosed amount. The brand sold over 500,000 bottles globally in 2019.
Moet Hennessy President and CEO Philippe Schaus said Armand de Brignac breaks obstacles and reflects modern notions of luxury, even as it supports historical Champagne-making customs.
“We’re incredibly pleased to be partnering together,” Schaus said.
Carter said the partnership can assist Armand de Brignac grow and prosper, noting Moet Hennessy’s track record of creating luxury brands such as Dom Perignon and Veuve Clicquot.
“It’s a partnership which has felt comfortable the whole time,” Carter stated.
Carter is just one of many celebrities to gain from a partnership using an alcohol manufacturer.
It was bought by beverage giant Diageo at 2017 for $700 million.
Actor Dwayne”The Rock” Johnson recently published a tequila brand named Teramana. Singer John Legend includes his very own wine label, LVE. In 2018, singer Bob Dylan established the Heaven’s Door whiskey brandnew.