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LVMH's Moet Hennessy Buys 50% Stake In Rap Star Jay-Z's Champagne Brand

By Dave Simpson

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.

News by Reuters, edited by Hospitality Ireland. Click subscribe to sign up for the Hospitality Ireland print edition.

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Enjoy full access to Hospitality Ireland, our weekly email news digest, all website and app content, and every digital issue.
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