Taking to its official Instagram page, Jay-Z's record label management of Rocnation, revealed that Moet Hennessy has bought a 50% partnership stake from Jay-Z's Armand de Brignac.
Announcing on Instagram Rocnation wrote:
"Moet Hennessy announces a partnership with Shawn Jay-Z Carter via the acquisition of 50% of Champagne Armand De Brignac.
I'm proud to welcome the Arnault family into ours through this partnership that began with Alexandre Arnault and continued with his father Bernard Arnault and Philippe Schaus, at my home in Los Angeles.
It's a partnership that has felt familiar the entire time. We're confident that the sheer power of the Moet Hennessy global distribution framework, its unparalleled portfolio strength and its long-established track record of excellence in developing luxury brands will give Armand de Brignac the commercial power it needs to grow and flourish even further."
In another statement: "Moët Hennessy, the world leader in luxury wines and spirits is pleased to announce a partnership with Shawn JAY-Z Carter through the acquisition of a 50% stake in Armand de Brignac, a leader in prestige champagne. The partnership reflects a shared vision between Moët Hennessy and Shawn JAY-Z Carter for the future of this iconic Maison."
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