News briefs
February 23, 2021
LVMH is taking a 50 percent stake in Armand de Brignac Champagne. Image credit: Armand de Brignac
By Luxury Daily News Service
Luxury Daily’s live news for Feb. 22:
Moët Hennessy takes 50pc stake of Jay-Z’s Ace of Spades
French luxury conglomerate LVMH’s wine and spirits division Moët Hennessy has acquired a 50 percent stake in Champagne brand Armand de Brignac, owned by rapper and entrepreneur Shawn Jay-Z Carter, as it looks to appeal to a more diverse and global luxury consumer.
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