Jay-Z sells half of his Champagne brand to owner of Dom Pérignon

LVMH, which owns Dom Pérignon and Moët & Chandon, has taken a 50% stake in Jay-Z’s Champagne brand Armand de Brignac, also known as “Ace of Spades.” The terms of the deal were not disclosed. The partnership comes at a time when LVMH is working to appeal to a more diverse clientele. The luxury sector has long been criticized for cultural appropriation, high-profile racist gaffes and a lack of runway diversity.

LVMH recently revealed tennis champion Naomi Osaka as its new brand ambassador. During the US open, Osaka was praised for supporting the Black Lives Matter protests that started

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