Jay Z has announced a brand new partnership with Moet Hennessy Louis Vuitton. The mogul has sold 50% stake in his luxury champagne brand Armand de Brignac to MHLV. He told The New York Times, “Just the idea of this partnership is a signal to a more diverse way of looking at things.”
He added, “We were always looking to grow this brand and this happened very naturally.”
The new deal with Moët Hennesy involves a 50-50 ownership split as well as a global distribution agreement.
TINA LAWSON PRAISES JAY Z
Meanwhile, Beyonce's mom Tina Lawson took to social media to praise her son in law after he announced his new partnership. She wrote via Instagram, “This is a love letter to my son-in-law Shawn Carter.” She bought up this year's SuperBowl and the performances of Black artists like Jazmine Sullivan, H.E.R. and The Weeknd.
She wrote, “I could not help but remember when J took on being in charge of the Entertainment at the Super Bowl. And saying that things would never change unless we had someone on the inside that could make decisions. Someone at the top. I read all the horrible things people said calling him a sellout and hating on him big time. But he kept it moving because every person who has affected change has been criticized and dogged by their peers.”
She continued, “One thing that I’ve noticed about Jay is that he doesn’t let what people say bully him into not doing the things that he knows are right. But after the last Super Bowl I did not read one comment by one person that said that they were pleased that he didn’t listen to the noise and he kept it moving and that he was able to get three talented Black people to dominate this year’s Super Bowl. Why is that?”
She also mentioned that it took a lot of “guts,” “money, blood sweat and tears” to start Tidal but people would rather support Apple.
She added, “But today Jay I salute you and your latest venture in selling 50% of your Champagne Co to LVMH. You are a badass brother and I hope that you continue to pave the way for others like you have in the past!! You are a Bad Ass brother. I love you so much!!❤️”