Warren Buffet he had said so: “He is the person to whom a young person who wants to grow must look”. And indeed the rap mogul seems not to really miss any shots. The last excellent result in the palmarés? Simple: sell champagne to the French. They will allow us the pun, but in fact it really is. It was in fact announced that the Jay Z’s champagne cru, Armand De Brignac (also known as Ace of Spades) was acquired 50% by the luxury multinational LVMH which in its “wine list“already owns prestigious labels such as Krug and Dom Perignon.
The terms of the agreement, from an economic point of view, have not been revealed, however it is understood that for both companies this partnership seems to be win-win: on the one hand, Armand De Brignac will be able to leverage the experience and presence of LVMH. in the luxury sectors without having to fear the presence of too direct competitors. On the other hand, there is all the advantage for LVMH in the absorption of a reality that has had an exponential growth transforming itself from a niche product into a small cult thanks also to an “unscrupulous” promotional policy by Jay Z (remember the “right of cork ” exercised at the Globes ceremony) and reaching half a million bottles in 2019.
An acquisition that, in the year of the pandemic that saw a vertical collapse in the sale of luxury beverages due to the closure of restaurants and venues which still remain the way of excellence for the high and very high-end wine market , certainly tells of a desire to invest in safe assets which, as Jay Z himself said in the text of What’s Free by Meek Mill, seems to be his real trump card.
“I’m 50% in D’usse and he’s in surplus with the balance, I have 100% Ace of Spades and it’s worth half a billion”. When they say sing them to the competition …