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May 30, 2022 View:

LVMH group Moët Hennessy acquires 50% stake in Champagne A de Noirs

On February 22, Mot Hennessy, a subsidiary of French luxury group LVMH, announced that it had confirmed its partnership by acquiring a 50% stake in Armand de Brignac, a Champagne house owned by the American rapper.

Image courtesy of: Wine Business Watch

The partnership agreement includes Moët Hennessy"s 50% stake in the A Champagne House of Spades and the takeover of the brand's global distribution. Philippe Schaus, chairman and CEO of Moët Hennessy, said: "We are committed to reaching an agreement with Jay-Z and his brand on an equal footing.

Jay-Z said in a press release:I am proud to have the Arnaults (Bernard Arnault: CEO of LVMH) involved in our adventure. In my opinion, this is a strategic alliance. He added: We believe that the strength of Moët Hennessy's global distribution network, its unparalleled portfolio of products under the company's umbrella and its long-standing reputation for excellence in luxury brand development will give the A Champagne House of Spades the commercial strength it needs to grow.