JAY-Z’S ARMAND DE BRIGNAC TO BE WORTH $630 MILLION
Recently, Jay-Z announced the new partnership with Moët Hennessy of LVMH. In his latest venture, he sold half of his Armand de Brignac champagne brand to LVMH. Jay-Z acquired a 50 percent stake in Armand de Brignac back in 2006, then in 2014, he bought out the remaining half from Sovereign Brands. Jay-Z said during CNBC's Squawk Box on that he and LVMH were conversing over about a deal since 2019. “We are confident that the sheer power of the Moët Hennessy global distribution framework, its unparalleled portfolio strength, and its long-established track record of excellence in developing luxury brands will give Armand de Brignac the commercial power it needs to grow and flourish even further.” Jay-Z stated that the Armand de Brignac brand was...