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.