{"id":1272,"date":"2021-02-23T06:07:46","date_gmt":"2021-02-23T06:07:46","guid":{"rendered":"https:\/\/www.withinnigeria.com\/entertainment\/?p=1272"},"modified":"2021-02-23T06:07:46","modified_gmt":"2021-02-23T06:07:46","slug":"jay-z-sells-50-stake-of-his-champagne-brand-to-luxury-giant-lvmh","status":"publish","type":"post","link":"https:\/\/www.withinnigeria.com\/entertainment\/2021\/02\/23\/jay-z-sells-50-stake-of-his-champagne-brand-to-luxury-giant-lvmh\/","title":{"rendered":"Jay-Z sells 50% stake of his Champagne brand to luxury giant LVMH"},"content":{"rendered":"<p>American rapper and entrepreneur, Jay-Z has sold half stake of his Champagne brand, Armand de Brignac, to luxury giant LVMH\u2019s Mo\u00ebt Hennessy in a partnership deal.<\/p>\n<p>The 51-year-old American entrepreneur and rapper sold half of his champagne brand to Mo\u00ebt Hennessy for an undisclosed price, and the Financial Times reports he said the move will help take Armand de Brignac to \u201cthe next level of taste and distribution.\u201d<\/p>\n<p>On Monday, LVMH\u2019s Mo\u00ebt Hennessy announced the partnership with Jay-Z through the 50 percent acquisition of his Armand de Brignac champagne brand.<\/p>\n<p>\u201cI\u2019m 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,\u201d said Jay-Z of the new partnership in a statement.<\/p>\n<p>\u201cIt is a partnership that has felt familiar the entire time. We are confident that the sheer power of the Mo\u00ebt Hennessy global distribution <a href=\"https:\/\/www.withinnigeria.com\/entertainment\/2021\/02\/22\/rapper-bobby-shmurda-shares-message-to-fans-ahead-of-his-release-from-prison\/\">framework<\/a>, 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.\u201d<\/p>\n<p>The deal is aimed at growing Armand de Brignac through LVMH&#8217;s global distribution networks and using its vast resources.<\/p>\n<p>Armand de Brignac, known by the nickname Ace of Spades, reportedly sold more than half a million bottles in 2019 but champagne sales have been hit amid the pandemic, with nightclubs and restaurants around the world forced to close their doors.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>American rapper and entrepreneur, Jay-Z has sold half stake of his Champagne brand, Armand de Brignac, to luxury giant LVMH\u2019s Mo\u00ebt Hennessy in a partnership deal. The 51-year-old American entrepreneur and rapper sold half of his champagne brand to Mo\u00ebt Hennessy for an undisclosed price, and the Financial Times reports he said the move will [&hellip;]<\/p>\n","protected":false},"author":9,"featured_media":1273,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jnews-multi-image_gallery":[],"jnews_single_post":[],"jnews_primary_category":[],"footnotes":""},"categories":[4],"tags":[350,351,348,352,353,349],"class_list":["post-1272","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-50-stake","tag-champagne-brand","tag-jay-z","tag-luxury-giant","tag-lvmh","tag-sells"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.8 (Yoast SEO v27.8) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Jay-Z sells 50% stake of his Champagne brand to luxury giant LVMH<\/title>\n<meta name=\"robots\" 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