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Jay-Z speaks on new partnership with Moet Hennessey
The ‘Ace of Spade” brand was previously owned by hip hop mogul and businessman Jay Z who bought it in 2014. He is to retain a 50% ownership stake alongside Moet.
By Clever Advertising
Jay Z and the CEO of LVMH wines Philippe Schaus were invited on “Squawk Box” by CNBC news to discuss the deal
On why he chose to deal with Moet, Jay Z stated that his thinking, integrity, and passion for luxury products align with that of Moet Hennessey. He also stated that he has a lot of respect for the company.
He said, “You know they have just aligned in our thinking and thoughts and the way they care about products. You know when we build the products, whether it be Roc Nation, to monogram, to whatever we are building. We are building luxury products and Moet Hennessey goes about it the same way.
“We are aligned in our thoughts, integrity, and passion for the things we build”
Louis Vuitton Moet Hennessey was represented by its CEO Philippe Schaus who was also live to discuss the deal
On why the company chose to work with Jay Z, he stated that his Luxury Champagne brand is in a very attractive category. He stated that the company has been following up with the Ace of spades brand and was impressed with how they were able to attract new customers to the market.
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