LVMH's Moet Hennessy has bought a 50% stake in rap star Jay-Z's Armand de Brignac champagne brand.
"I'm proud to welcome the Arnault family into ours through this partnership," the Jay-Z said in a statement, referring to the family that runs LVMH.
Financial terms of the deal were not disclosed.
Partnership Deals With Celebrities
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Historic luxury brands around the world have struck partnership deals with celebrities, seeking to appeal to younger customers, with Jay-Z's pop star wife, Beyoncé, already involved in the Ivy Park sportswear brand.
Last year, cosmetics company Coty agreed to buy a 20% stake in reality TV star Kim Kardashian West's makeup brand KKW, although earlier this month LVMH put a Fenty fashion venture with pop star Rihanna on hold.