Jay-Z Sells 50 Percent Stake in Armand de Brignac to Moët Hennessy, Talks Partnership

On Monday, LVMH’s Moët Hennessy announced a partnership with Jay-Z through the 50 percent acquisition of his Armand de Brignac champagne brand.

The 51-year-old entrepreneur and musician sold half of his champagne brand to Moët Hennessy for an undisclosed price, and the Financial Times reports said the move will help take Armand de Brignac to “the next level of taste and distribution.” Since 2006, Armand de Brignac has continued to grow, and in 2019, the brand sold over 500,000 bottles through North America, Asia, and Europe. Jay acquired the brand in 2014.

“I’m proud to welcome the Arnault family into ours through this partnership that began with Alexandre Arnault and continued with his father Bernard Arnault and Philippe Schaus, at my home in Los Angeles,” said Jay-Z of the new partnership in a statement. “It is a partnership that has felt familiar the entire time. We are confident that the sheer power of the Moët Hennessy global distribution framework, its unparalleled portfolio strength and its long-established track record of excellence in developing luxury brands will give Armand de Brignac the commercial power it needs to grow and flourish even further.”

Jay and Moët Hennessy CEO Philippe Schaus appeared on CNBC’s Squawk Box to talk about the news, with Hov saying the partnership came “from a place of respect.” He also touched on his boycott of Cristal briefly, which ultimately led toward the acquisition of Armand de Brignac. “There’s plenty room to go from here.”

The partnership will allow Armand de Brignac to reach more stores than before, and includes a global distribution agreement. “We are going into this partnership on equal terms together with Jay-Z and his family and the same conviction that we are only at the beginning of a wonderful story,” added Philippe Schaus. “Together, we will lay a strong path forward to firmly cement Armand de Brignac as a luxury icon for current and future generations of customers.”

The New York Times reports that Jay said the deal “happened very naturally,” as he and his team were “always looking to grow this brand.” Schaus, who also manages the Dom Pérignon and Krug brands for Moët Hennessy, said Jay helped create “a new consumer for champagne.”

Beyoncé’s mother Tina Knowles praised Hov for his latest business move in a love letter on Instagram.