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LVMH Enters 50-50 Partnership With Jay Z on Ace of Spades Champagne – WWD

PARIS It seems that Jay Z is having the last laugh in the Champagne battles.

Fifteen years after founding his Armand de Brignac prestige range following a public spat with the owner of Cristal Champagne, the entertainment mogul has sold a 50 percent stake in the company to LVMH Moët Hennessy Louis Vuitton, joining a portfolio of prestigious brands including Dom Pérignon, Moët & Chandon, Ruinart, Krug and Veuve Clicquot.

With the partnership, which includes a global distribution agreement, LVMH is cementing its ties with the entertainment industry, and extending its reach into the high end of the Champagne market, after a year in which sales of French bubbly fell by a fifth due to the coronavirus pandemic. Financial terms of the…

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