Jay-Z and Moët Hennessy sign a mutually beneficial deal in an effort to transform “Ace Of Spades” into an enduring luxury icon.
In a statement revealed via press release, Jay-Z opened up about his decision to strike a fifty-fifty deal, citing Moët’s existing credibility and enduring brand power. “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,” he explains.
Philippe Schaus, President & CEO of Moët Hennessy, also shared a few words on the partnership. “We are going into this partnership on equal terms together with JAY-Z and his family and with the same conviction that we are only at the beginning of a wonderful story,” he states. “Together, we will lay a strong path forward to firmly cement Armand de Brignac as a luxury icon for current and future generations of customers.”
Check out the full press release, as shared in a Roc Nation tweet, below.
Shawn JAY-Z Carter is pleased to announce a partnership with Moët Hennessy as they acquire a 50% stake in Armand de Brignac. The partnership reflects a shared vision between Moët Hennessy and Shawn JAY-Z Carter for the future of this iconic Maison. https://t.co/LHmQd0s7Dh pic.twitter.com/irRyziwZYs
— Roc Nation (@RocNation) February 22, 2021