According to the report, the champagne brand — affectionately known as Ace of Spades — is valued over $100 million USD more than what Hov rapped on the Meek Mill collab “What’s Free.” With the $630 million USD estimate, JAY-Z would have received a minimum of $315 million USD in cash payment.
“The multiples for Armand de Brignac—based on the category and volume size of the brand—far outreach brands that don’t have that celebrity ownership,” beverage market analyst Eric Schmidt said.
LVMH acquired 50 percent of Armand de Brignac through its Moët Hennessy wines and spirits division in late February 2021. The details of the deal were not specified, but a statement mentioned that it reflected “a shared vision between Moët Hennessy and Shawn JAY-Z Carter for the future of this iconic Maison.”
“It is a partnership that has felt familiar the entire time,” JAY-Z’s said in his own announcement. “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.”
Elsewhere in food and beverage, here’s everything you need to know about the “chicken wars.”