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LVMH buys 50 percent of Jay-Z owned champagne brand

LVMH, the world's biggest luxury goods company, said on Monday it had agreed to buy 50 percent of Armand de Brignac, the champagne brand owned by rapper Jay-Z. The company said the purchase -- for an undisclosed sum and made through its Moet Hennessy drinks division -- also involved a distribution deal and would kick off a partnership reflecting...

Feb. 22, 2021