clearn.png
Thursday February 25th, 2021 12:07AM

Moet Hennessy buys 50% stake in Jay-Z's Champagne brand

By The Associated Press
Related Articles
  Contact Editor

Moet Hennessy is acquiring a 50% stake in rapper and entrepreneur Jay-Z’s Champagne brand in an effort to up its cool factor and expand distribution.

Terms of the deal, which was announced Monday, weren’t released.

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.

Jay-Z, whose real name is Shawn Carter, gave the brand a boost in 2006 when he featured one of their bottles in a music video after a public fallout with Cristal, a rival brand. Carter accused Cristal of racism after an executive for the brand mused in an interview about whether partnering with a rapper would harm 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 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.

“We are incredibly proud to be partnering with them,” Schaus said.

Carter 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.

“It is a partnership that has felt familiar the entire time,” Carter said.

Carter is one of several celebrities to profit from a partnership with an alcohol brand.

Actor George Clooney co-founded Casamigos, a tequila brand, in 2013. It was purchased by beverage giant Diageo in 2017 for $700 million. Last year, Diageo also scooped up Aviation American Gin, a brand co-owned by actor Ryan Reynolds, for $610 million.

Actor Dwayne “The Rock” Johnson recently released a tequila brand called Teramana. Singer John Legend has his own wine label, LVE. And in 2018, singer Bob Dylan launched the Heaven’s Door whiskey brand.

  • Associated Categories: Associated Press (AP), AP Entertainment, AP Online Recordings News, APOnline Celebrity News, AP Business
© Copyright 2021 AccessWDUN.com
All rights reserved. This material may not be published, broadcast, rewritten, or redistributed without permission.
Garland says Justice Dept. must be politically independent
Merrick Garland, President Joe Biden’s nominee for attorney general, vowed on Monday to prioritize civil rights, combat extremist attacks and ensure the Justice Department remains politically independent
11:19AM ( 4 minutes ago )
Shops, haircuts return in April as UK lifts lockdown slowly
British Prime Minister Boris Johnson has announced a gradual easing of one of Europe’s strictest lockdowns on, saying children will return to class and people will be able to meet a friend for coffee in a park in two weeks’ time
11:11AM ( 13 minutes ago )
Europe-bound migrants found among recycling glass, toxic ash
Spanish authorities say they have found and rescued 41 migrants who tried to reach continental Europe from North Africa last week, some of them hiding inside a container of discarded glass bottles and a bag of toxic ash
11:10AM ( 13 minutes ago )
Associated Press (AP)
Grammy-winning duo Daft Punk break up after 28 years
Grammy-winning French duo Daft Punk have announced they're breaking up after 28 years
10:40AM ( 43 minutes ago )
In 'Minari,' harvesting an American dream
Lee Isaac Chung's “Minari" wasn’t a large production
10:19AM ( 1 hour ago )
Angry youths rattle Spain in support of jailed rap artist
The imprisonment of a rap artist for his music praising terrorist violence and insulting the Spanish monarchy has set off a powder keg of pent-up rage this week in Spain
10:10AM ( 1 hour ago )
AP Entertainment
Spain: Peaceful protests for jailed rapper see more clashes
A fifth night of peaceful protests to denounce the imprisonment of a Spanish rap artist once more devolved into clashes between police and fringe group members who set up street barricades and smashed storefront windows in Barcelona
5:06PM ( 1 day ago )
As 'Kimye' become Kim and Kanye, will it stay peaceful?
Initial signs suggest a smooth split between Kim Kardashian West and Kanye West
4:19PM ( 1 day ago )
Spain: Peaceful protests for jailed rapper see more looting
A fifth night of peaceful protests to denounce the imprisonment of a Spanish rap artist once more devolved into clashes between police and fringe group members who set up street barricades and smashed storefront windows in Barcelona
2:52PM ( 1 day ago )
AP Online Recordings News
Deal reached in suit alleging James Franco sexual misconduct
A tentative settlement has been reached in a lawsuit that alleged James Franco intimidated students at an acting and film school he founded into exploitative sexual situations
11:53PM ( 1 day ago )
Prince Charles visits 99-year-old Prince Philip in hospital
Prince Charles has visited his 99-year-old father, Prince Philip, in the London hospital where he was admitted earlier his week for “observation and rest” after falling ill
11:54AM ( 1 day ago )
Princess Eugenie and husband pick a name for their baby son
Buckingham Palace says Britain’s Princess Eugenie and her husband Jack Brooksbank have named their baby boy August Philip Hawke Brooksbank
6:01AM ( 2 days ago )
APOnline Celebrity News
Microsoft, EU publishers seek Australia-style news payments
Microsoft is teaming up with European publishers to push for a system to make big tech platforms pay for news
10:48AM ( 36 minutes ago )
Germany reopens some schools amid fears pandemic may rebound
Elementary students in more than half of Germany’s 16 states have returned to school after more than two months at home
10:48AM ( 36 minutes ago )
Dominion Voting Systems sues 'MyPillow Guy' for $1.3 billion
Dominion Voting Systems has filed a $1.3 billion defamation lawsuit against the founder and CEO of Minnesota-based MyPillow
10:34AM ( 49 minutes ago )
AP Business
Garland says Justice Dept. must be politically independent
Merrick Garland, President Joe Biden’s nominee for attorney general, vowed on Monday to prioritize civil rights, combat extremist attacks and ensure the Justice Department remains politically independent
11:19AM ( 4 minutes ago )
Shops, haircuts return in April as UK lifts lockdown slowly
British Prime Minister Boris Johnson has announced a gradual easing of one of Europe’s strictest lockdowns on, saying children will return to class and people will be able to meet a friend for coffee in a park in two weeks’ time
11:11AM ( 13 minutes ago )
Europe-bound migrants found among recycling glass, toxic ash
Spanish authorities say they have found and rescued 41 migrants who tried to reach continental Europe from North Africa last week, some of them hiding inside a container of discarded glass bottles and a bag of toxic ash
11:10AM ( 13 minutes ago )
Belgian projections warn not to relax measures too quickly
The government is presenting scientific projections of the spread of the COVID-19 pandemic in Belgium, indicating it would be very risky to extensively loosen the current restrictions over the coming weeks
11:02AM ( 21 minutes ago )
Supreme Court won't halt turnover of Trump's tax records
In a significant defeat for former President Donald Trump, the Supreme Court has declined to step in to halt the turnover of his tax records to a New York state prosecutor
10:50AM ( 34 minutes ago )