Papa Keith

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Jay-Z & LVMH Come Together Through Ace Of Spades

JAY-Z is selling 50 percent of Armand de Brignac company, which holds Ace of Spades champagne line, to LVMH.

โ€œWe were always looking to grow this brand and this happened very naturally,โ€ Jay said of the partnership. โ€œJust the idea of this partnership is a signal to a more diverse way of looking at things.โ€

Forbes estimated Armand de Brignac to have a $310 million valuation, as Jay joined CNBC to detail why the partnership made sense.

โ€œWhen we build luxury products, whether it be from Roc Nation to Monogram, weโ€™re building luxury products,โ€ he stated. โ€œMoรซt Hennessy goes about it the same way. We were aligned in our thoughts in integrity and passion for the things that we build.

LVMH is a French corporation specializing in luxury goods and own designer brands such as Dior, Givenchy, Tiffany & Co. and Gucci.

Photos by Getty Images


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