An aficionado of fine goods, Jay Z has decided to no longer just be just a fan of a certain product, but actually own it. The New York rapper and mogul has purchased the luxury champagne brand Armand de Brignac, popularly known as Ace Of Spades because of its logo.
Now Jay Z, a business owner in various mediums including music and sports, has decided to buy Armand de Brignac from Soverign Brands, its parent company. In a statement Sovereign Brands stated via the NY Times, "We are proud to announce that Sovereign Brands, a New York-based wine and spirits company owned by the Berish family, has sold its interest in the Armand de Brignac ('Ace of Spades') Champagne brand to a new company led by the globally renowned Shawn 'Jay Z' Carter,"
Information has not been disclosed on the details of the deal or the name of Jay Z's new company.
The love affair between Jay Z and Armand de Brignac is nothing new. As the Wall Street Journal reported at the time, Jay Z heard about the champagne through a friend and like it so much he decided to put it in his "Show Me What You Got" music video. He has been a brand sponsor since that point.
Rap moguls have been successful in the alcohol business in the past, most notably P Diddy's continuing partnership with Ciroc vodka. Jay Z has taken his relationship to the next level by buying the business outright. It will be interesting to see who he markets the champagne to, looking to either penetrate the urban market or going for the high-end champagne drinker.
As Jay Z famously says on his verse for Kayne West's "Diamonds Of Sierra Leone", "I am not a businessman, I am a business man." Well now you have another business of your own, Jay Z. Let's see how that business works.
