LVMH’s Moet Hennessy is buying a 50% stake in rap star Jay-Z’s Armand de Brignac champagne brand, the latest luxury brand to try to broaden its appeal with a celebrity tie-up.
“I’m proud to welcome the Arnault family into ours through this partnership,” the “Empire State of Mind” singer said in a statement, referring to the family that runs LVMH.
Financial terms of the deal, which was reported earlier by the Wall Street Journal, Financial Times and New York Times, were not disclosed.
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