LVMH buys 50% of rapperJay-Z’s champagne brand Armand de Brignac

Armand de Brignac sold more than half a million bottles in 2019, prices of which run $300 and up.

LVMH’s Moet Hennessy has bought a 50% stake in Armand de Brignac, a Champagne producer owned by rapper Jay-Z, another sign of a close relationship between the luxury industry and hip-hop culture. No financial terms were disclosed for Monday’s transaction. Armand de Brignac sold more than half a million bottles in 2019, prices of which run $300 and up. The rap star has been an investor in the brand since 2006, when he touted the brand, known for its Ace of Spades logo on a metallic silver bottle, in a video for “Show Me What You Got.” Jay-Z bought out Sovereign Brands’s stake in the company in 2014.