LVMH buys 50% stake in Jay-Z’s champagne brand Ace of Spades

According to the New York Times, LVMH will acquire half of Armand de Brignac, Jay-Z’s Champagne line known as Ace of Spades. Under the terms of the partnership, LVMH and Jay-Z said, is aimed at growing Armand de Brignac through LVMH’s global distribution networks while drawing upon the conglomerate’s vast resources within the spirits industry. Neither side disclose the financial terms of the transaction.

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