The New Paper

February 23, 2021

LVMH acquires stake in Jay-Z backed champagne brand

Luxury goods conglomerate LVMH acquired a 50% stake in Armand de Brignac, a champagne brand owned by rapper and business executive Jay-Z. The deal marks the latest in a growing trend of celebrity-backed alcohol brands, including Casamigos (previously owned by George Clooney and sold to Diageo for $1B in 2017).
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This story is from the February 23, 2021 edition of The New Paper – a clear, concise daily briefing that makes fact-first news easy to consume. Try it today.