The brand of the “Empire State of Mind” singer is one of the most current in the sparkling wine industry and is recognized for its iconic metallic bottles that can fetch prices of up to 12 thousand pesos.
Grow Your Business, Not Your Inbox
Stay informed and join our daily newsletter now!
February 22, 2021 2 min read
LVMH’s luxury brand Moët Hennessy announced that it will purchase 50% of the Armand de Brignac brand of champagne from rapper Jay-Z , Beyoncé’s husband.
As reported by the Wall Street Journal , the singer said he “is proud to welcome the Arnault family to ours through this association,” referring to the family that runs LVMH .
The partnership’s financial terms are not known, but it is the luxury brand’s latest effort to reach out to younger customers.
The “Empire State of Mind ” singer’s brand is one of the most current in the sparkling wine industry and is recognized for its iconic metal bottles that can fetch prices of up to 12,000 pesos (about $ 547).
This partnership comes at a difficult time for champagne, says the Journal , as the pandemic has caused the cancellation of weddings, graduations and other events that reduced their sales by 20% in 2020.