Moet Hennessy is buying a 50% stake in rapper and entrepreneur Jay-Z’s Champagne brand in hopes of expanding distribution. Armand de Brignac, known familiarly as Ace of Spades because of its distinctive label, is produced in France’s Champagne region by a father and son who are 12th and 13th generation wine growers.
Mr. Shawn Carter (Jay-Z), boosted the brand back in 2006 when he featured one of their bottles in a music video after a public fallout with rival brand Cristal. Carter accused Cristal of racism after an executive for the brand mused in an interview about whether partnering with a hip-hop artist would hurt its image.
In 2014, Carter bought Armand de Brignac for an undisclosed sum. The brand sold more than 500,000 bottles worldwide in 2019. Moet Hennessy [$MC] 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.
Hov said the partnership will help Armand de Brignac grow and flourish, noting Moet Hennessy’s track record of developing luxury brands like Dom Perignon and Veuve Clicquot. Moet Hennessy is the wine and spirits division of luxury goods company LVMH.
Carter is among the several celebrities to profit from a partnership with an alcohol brand. Actor George Clooney co-founded his tequila brand Casamigos, a tequila brand in 2013. It was purchased by beverage giant Diageo in 2017 for $700 million. Last year, Diageo [$DEO] also scooped up Aviation American Gin, a brand co-owned by actor Ryan Reynolds, for $610 million.
What’s more, Dwayne “The Rock” Johnson recently released a tequila brand called Teramana. Singer John Legend has his own wine label, LVE. Singer Bob Dylan launched the Heaven’s Door whiskey brand in 2018. Nick Jonas unveiled his Villa One tequila. Rick Ross has his Bumbu rum. And most recently, Kendall Jenner revealed her 818 tequila on Instagram.