Jay-Z has sold 50% of his champagne brand Armand de Brignac (Ace of Spades) to LVMH. After buying the company in 2014 for ~$30M, Jay-Z increased annual sales from 60k to 500k bottles in 2019. Ace of Spades costs ~$13 to make but sells for $225 at wholesale — a 94% profit margin
JAY-Z on teaming up with @MoetHennessy
"We aligned in our thoughts of integrity and passion for the things that we build" pic.twitter.com/ASWIjgYdMp
— JAY-Z Daily (@JAY_Z_Daily) February 22, 2021
