Jay-Z’s champagne brand has gotten a big boost from luxury brand LVMH with the latter announcing its purchase of a 50% stake in the brand. Jay-Z’s champagne company Amand de Brignac but its trade name is ‘Ace of Spades,’ known for its vibrant metallic bottles.
The brand has been performing well, and according to statistics- before the pandemic, the luxury drink sold out more than 500,000 bottles in 2019. The new partnership will see Moet Hennessy being distributed globally. The French brand has several premium wines and spirits under its company name, which includes the likes of Dom Perignon Veuve Cliquot, Krug, and Chateau d’Yquem.
In 2014 Jay-Z bought into Armand de Brignac after the company tanked following disparaging and racist comments made by an executive towards rap consumers. The company was boycotted from 2006 until Jay-Z stepped in. the company’s wines and spirits are made by the Cattier family, who boasts a rich tradition of crafting the beverage for thirteen generations.
According to the New York Times, the deal has been in the making since 2019 between the son of the LVMH house brand- Alexandre Arnault. Jay-Z, speaking of his relationship with the younger French mogul, said, “I view him as a person of high integrity. Always keeps his word, very punctual. These are some of the qualities I have myself.”
Despite the pandemic, there is optimism about people continuing to buy luxury beverages in comparison to other commodities.
Last week Arnault’s company and Savage X Fenty, owned by Rihanna, announced a hold on their fashion house mainly because sales of clothing have dropped dramatically, largely due to the fact that with the restaurant industry shut down and with people not having anywhere to go, there’s no use buying in-season fashion to wear later.
However, champagne and other alcoholic beverages seem to continue to enjoy sales, particularly as can be seen at events such as Verzuz, the President’s swearing-in, and the many indoor house parties kept over the Super Bowl weekend.
In January last year, Beyonce and Jay-Z arrived at the 2020 Golden Globes with two bottles of Ace Of Spades in hand. The power couple later poured their own champagne during the awards ceremony sharing it with some friends seating close by.
