According to Forbes, the recent acquisition of Jay-Z’s Armand de Brignac champagne brand by LVMH is said to have been worth a reported $630 million.
In this deal, the rap legend’s champagne brand, known as Ace of Spades, was reportedly valued at over $600 million. Forbes valued the brand at roughly $630 million, and with LVMH buying a 50 percent stake, that means Jay-Z’s cut is at least a minimum of $315 million.
“The multiples for Armand de Brignac—based on the category and volume size of the brand—far outreach brands that don’t have that celebrity ownership,” beverage market analyst Eric Schmidt told Forbes.
LVMH acquired half of the brand through its Moët Hennessy wines and spirits division last month. While key details of the deal have not been made public, a statement released did say that it reflected “a shared vision between Moët Hennessy and Shawn JAY-Z Carter for the future of this iconic Maison.”
Jay told Yahoo finance that the sale would help take Armand de Brignac to “the next level of taste and distribution.”
“We want the brand to outlast all of us…We don’t cut corners or lean on fame to sell the product,” he stated. “We’ve built it through passion and integrity.”