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Jay-Z sells 50% of Ace of Spade, his Champagne brand to LVMH

Jay-Z sells 50% of Ace of Spade, his Champagne brand to LVMH

Music icon and business mogul, Jay-Z has just sold 50% of his Champagne brand Armand de Brignac to Luxury giant LVMH, OYOGist.com has gathered.

Armand de Brignac is popular known on the streets as Ace of Spade due to the branding on its bottle.

LVMH owns popular Moët Hennessy Louis Vuitton’s drinks which includes Don Pérignon and Krug.

Philippe Schaus, the chief executive of LVMH facilitated the deal with Jay-Z.

While the figures were not revealed, but lyrics from Jay-Z’s 2018 song with Meek Mill would value the sale at an estimated $250 million.

“I’m 50 percent of D’Ussé and it’s debt-free, 100 percent of Ace of Spades, worth half a B,” Jay-Z rapped on “What’s Free,” the Meek Mill track. (D’Ussé is the cognac brand that Jay-Z owns with Bacardi.)

Jazy-Z reportedly acquired the Champagne brand in 2014 for the sum of $30 million.

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OYOGist brings you only the latest and most relevant news you need to make your day complete. For ads placements, reach out to us via ads (at)oyogist.com. If you have news tips or gossips, email us at tips (@) oyogist.com.

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