PARIS - LVMH’s Moet Hennessy is buying a 50% stake in rap star Jay-Z’s Armand de Brignac champagne brand, the latest luxury brand to try to broaden its appeal with a celebrity tie-up.
“I’m proud to welcome the Arnault family into ours through this partnership,” the “Empire State of Mind” singer said in a statement, referring to the family that runs LVMH. Financial terms of the deal, which was reported earlier by the Wall Street Journal, Financial Times and New York Times, were not disclosed.
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 Beyonce 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 on hold its Fenty fashion venture with pop star Rihanna.
I want my people to really think about this: how tf does this help us? Who else does this help besides jay and bey? The last thing our community needs is more poverty and alcohol.
No appeal for me.
Rich folks get on my nerves as the country flounders.
Diversity is JayZ hiphop Dr Ben Carson; brain surgeon & secretary of housing & URBAN development? Whose choosing these 🤡 for you? lol.
cadê as máscaras?
Follow 4 follow back
All about marketing 👌
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Where’s my bottle to celebrate!
Lvmh new market is the low end segment
Are there any public figures on Tidal? I wish youtubemusic could partner with them for the lossless audio streaming technology.
Horribly overpriced champagne without complexity. Armand de Brignac basically is a Cattier champagne (which can be bought for a fraction of the $) with a fancy bling-bling label and rap celebrities peddling it. A new trap for any nouveau riche 🤡 to throw more $ at LVMH brands.
Jai Hind.
All proceeds are going to Beyonce's new booty fund.
Sir Hova..
It's not champagne if it's not from Champagne
Another reason not to buy coarse Moët then.
Who cares!!!
Is it any good?
I really don't care; do you?
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