Moet Hennessy is acquiring a 50% stake in the rapper and entrepreneur's Champagne brand, Armand de Brignac, in an effort to up its cool factor and expand sales.
Jay-Z, whose real name is Shawn Carter, said the partnership will help Armand de Brignac grow and flourish.
(Photo by Greg Allen/Invision/AP, File)Moet Hennessy is acquiring a 50% stake in rapper and entrepreneur Jay-Zās Champagne brand in an effort to up its cool factor and expand distribution.
Moet Hennessy President and CEO Philippe Schaus said Armand de Brignac breaks barriers and reflects contemporary ideas of luxury, even as it supports historic Champagne-making traditions.
Moet Hennessy is the wine and spirits division of luxury goods company LVMH.