Moet-Hennessy Takes Up 50% Stake In Jay-Z's 'Ace Of Spades'

Shawn Carter otherwise known as Jay-Z is pushing for new frontiers in his quest to be a strong player in the champagne industry. With Moet Hennessy teaming up with the Roc Nation label for a deal that means both parties are the owners of the brand. 

Just last week, Moet Hennessy - a division of the luxury conglomerate LVMH - announced they have purchased a 50 percent stake in Armand de Brignac which is also called Ace of Spades. The deal struck means the rapper/business mogul and his partners are equal owners of the company. 

Speaking of the partnership, Moet Hennessy CEO Philippe Schaus acknowledged one of the reasons they have entered into a deal with the rapper was that his champagne brand is such that has grown very "quickly" and already "very successful" in the market. 

Schaus added, "What we could bring to the brand, which is already successful, is the sheer power of our international distribution network."

The brand was underdog until Jay took it on his wings and promoted it so strongly in his songs, making it popular by using his craft. That was the turning moment for Armand de Brignac that reportedly presently has sold well over 500,000 bottle 

Schaus explained further speaking to CNBC that Moet Hennessy's global distribution framework will give Jay's brand the commercial power required for it to "grow and flourish" even much more than it has. Presently, Armand de Brignac is impacted negatively by the coronavirus pandemic as sales fell $1.2 billion according to the industry trade group - Comite Interprofessional du Vin de Champagne.