In the world of sports,music and entertainment, few names make more of a splash than Jay Z.
There has been a resurgence of Energy coming from the Champagne hustling, NFL parlaying, app creating Mogul. As of Monday, Feb 18 Mr.Carter announced he would be turning over a 50% stake of Armand de Brignac also know as “Ace of Spades”, to Moét Hennessy the beverage arm of the company LVHM, the fashion Beverage business conglomerate owned by Dior.
The Arnault family owns and operates LVMH conglomerate and will have an opportunity to help expand the “Ace of Spades” footprint to a even larger population of champagne slippers.
Just as important this partnership marks a very strategic push from Moet Hennessy and Mr. Shawn Carter towards servicing a population of beverage patrons that are not only ethnically diverse but occupational diverse.
This also highlights a string of ventures and partnerships Jayz has championed. The voice of BIPOC has been muted in the beverage world. When Mr.Carter bought Ace of Spades in 2006, the culture began to shift.
From an outside perspective this interaction shows how two companies who epitomize luxury and decadence can band together towards creating a dialogue and space for People of Color in Markets that previously held high barriers to entry. The same rhetoric was discussed when Jayz Joined the NFL in an Executive Capacity.
While the Financial terms have not been released, Jay took to CNBCs SquawkBox to announce that Moet Hennessy would be acquiring a 50% stake ownership of “Ace of Spades” for 250 Million Dollars.
As a reminder, Mr.Carter bought the company in 2006 for Roughly 30 Mil. 15 years later, his iconic beverage routinely chanted in music videos has become a glorious example of big business turning to Black Business for insight and growth oppurtunities.
On Squawk Box, Jay z goes into further detail about his first impressions of the owners of Moet Hennessy and how the deal ultimately got its wings. Detailing the importance of business ethics, attention to detail, and the steps taken by both parties. No doubt, this partnership is history in the making. Future business students can expect this deal to reach their textbooks in no time.
As more news about these dealings are released we will make sure to inform you. For now, do know the future of beverages near and far rest in the Hands of Jayz and Moet Hennessey
And if you are under 21 or don’t consume alcoholic beverages get ready to study this piece of history in future academic journals regarding Mergers and Acquisitions, and growth strategies.
Click the link below to watch the video
Click for Full Video of the interview between Jayz and CNBC’s Squawk Box
Written By Jeremy Wiles
Produced and Edited By Joseph Wiles
O.H.$.O LIFE 