LVMH and Jay-Z announce a 50% partnership in Armand de Brignac aka Ace Of Spades, which will see LVMH handle global distribution. Pre-pandemic sales show potential for huge growth in the brand going forward.
The start of Jay-Z’s venture into the spirits business started when the rapper was one of the forces behind the boycott of the then-popular champagne Cristal. After the boycott started, people asked “What will we drank now?” and Hov answered, bringing the people Ace Of Spades.
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In a short time, the Armand de Brignac bubbles were everywhere and it felt natural, unlike most liquor brands stepping into pop culture. Before the pandemic, the brand was steadily growing and as we head toward (hopefully) stabilizing the pandemic, sales are returning to normal. According to Forbes, Jay-Z and the brand are now focused on global expansion and distribution as they announce a new partnership with LVMH.
The partnership also gives Moët Hennessy a global distribution agreement. The French conglomerate has several marquee wines and spirits under its umbrella, including Dom Perignon, Veuve Clicquot, Krug and Château d’Yquem. The deal arrives in the footsteps of recent news that LVMH had paused Rihanna’s Fenty ready-to-wear collection.
Jay-Z famously bought into Armand de Brignac in 2014, following a 2006 boycott of Cristal champagne after an executive at that brand made disparaging remarks about rap consumers. Armand de Brignac makes prestige cuvees by the Cattier family, now in their 13th-generation of crafting wine.
Champagne sales dwindling during the pandemic is to be expected as the spirit goes hand in hand with celebration, and with the year 2020 deal, it just wasn’t in the cards. However, when Trump lost the 2020 election, stores saw sales skyrocket and eclipse the previous two New Year Eve’s sales combined. Another win for Hov.
This article was originally posted on Bossip.com.
LVMH Announces 50% Partnership In Jay-Z’s ‘Ace Of Spades’ Brand was originally published on rickeysmileymorningshow.com