Jay-Z and LVMH Moët Hennessy Louis Vuitton SE join forces in the champagne business to further strengthen the hip-hop and luxury world alliance as a Covid-19 pandemic. Established sales of festive wine World wide.
LVMH, the world’s largest producer of champagne, has acquired a 50% stake in Armand de Brignac, a high-end champagne brand owned by rapper and mogul Jay-Z. One of the youngest brands in the famous sparkling wine region is known for its metal bottles, which cost hundreds of dollars per bottle.
According to LVMH and Jay-Z, the investment aims to grow Armand de Brignac through LVMH’s global distribution network while leveraging the resources of conglomerates within Champagne Wine. It’s a difficult time for Champagne. The pandemic canceled occasions such as weddings and soirees, popped corks, and last year’s wine sales fell by about 20%. Both sides did not reveal the value of the transaction.
In an interview with Sean Carter-born Jay-Z, “We want to grow faster than the staff we had and maintain a brand that is greater than some of the expertise we had. I was working really hard. ” “We have been in the last 15 years, not 100 years.”
This partnership shows how luxury European brands are embracing black recording artists and hip-hop culture to appeal to young and diverse customers. Rihanna and LVMH have launched the cosmetics line Fenty Beauty. Rapper Gucci Mane and his Italian fashion house Gucci co-produced the collection. The LVMH brand Dior uses rapper A $ AP Rocky as a featured model in several menswear collections. Streetwear has become a staple of luxury fashion.
Jay-Z and LVMH pop cork with champagne tie-up
Source link Jay-Z and LVMH pop cork with champagne tie-up