Rapper Jay-Z has sold a 50% stake in his luxury Champagne brand Armand de Brignac to Moët Hennessy for an undisclosed sum.
The brand launched in 2006 and featured in Jay-Z’s song “Show Me What You Got”. Beyoncé also helped make it a household name when she poured a $20,000 bottle of bubbly into a hot tub in her 2016 music video for “Feeling Myself.”
Its gone on to have a strong presence in the US, Asia, and Europe, and over 500 000 bottles sold in 2019. Armand de Brignac Brut Gold – the brand’s flagship cuveé – retails in Australia for around $599 a bottle.
“For years we have been following the fantastic success of Armand de Brignac and admiring their ability to challenge some of the rules of the Champagne category,” says Philippe Schaus, President & CEO of Moët Hennessy.
“Often referred to as “Ace of Spades”, Armand de Brignac breaks barriers and reflects contemporary luxury, while preserving the traditions of the Champagne terroirs. Today, we are incredibly proud to be partnering with them and believe that the combination of our Champagne experience and international network coupled with Shawn JAY-Z Carter’s vision, the strength of the Armand de Brignac brand and quality of its range of prestige cuvées will allow us to take the business to new heights across the world.”
Jay-Z added: “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. 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.”
The partnership will be anchored in the acquisition of a 50% stake in Armand de Brignac by Moët Hennessy as well as in a global distribution agreement.
“We are going into this partnership on equal terms together with Jay-Z and his family and with the same conviction that we are only at the beginning of a wonderful story,” Schaus said. “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.”
Jay-Z’s Moet snub at the Golden Globes
Ironically, Moët & Chandon was the official Champagne sponsor of the 2020 Golden Globes, but Beyoncé and Jay-Z caused a stir by choosing to BYO their own bubbles to the ceremony.
The couple’s bodyguard was photographed holding two bottles of Armand de Brignac as they made their entrance … 45 minutes after the awards had started and just as Ellen DeGeneres’ was about to give her acceptance speech for the Carol Burnett Award.
Amy Kaufman, a reporter for the Los Angeles Times, tweeted: “@Beyonce and Jay-Z just walked in,” she wrote on Twitter. “They’re waiting until Kate McKinnon finishes speaking to take their seats. Is their bodyguard carrying bottles of alc for them?”