It’s good to be Jay Z.
In 2006, he featured French champagne brand Armand de Brignac, alongside Danica Patrick and Dale Earnhardt Jr., in the music video “Show Me What You Got.” This week*, he concluded a deal to buy a stake in the company from New York’s Sovereign Brands. From the New York Times report:
Yvonne Lardner, a spokeswoman for Sovereign Brands, said the company has had a “wonderful relationship” with Jay Z. “He became interested in owning the brand and made us an offer we simply couldn’t refuse,” she said.
Armand de Brignac has a staff of eight at the Cattier family home in Chigny-les-Roses, France. Amidst the golden bottles with the ace-of-spades logo, 350 of which Jay Z used to decorate a fall 2012 President Obama fundraiser at the 40/40 Club, no doubt the buzz today is all about “Monsieur Jay Zeeee.”
*Update (November 7):
Whoops. Turns out the media got the chronology a little wrong. Per a Forbes blog post by Jay Z biographer Zack O’Malley Greenburg, the hip-hop mogul has had a stake in the company for years. This latest transaction only added to a long-ago, previous champagne hold:
This piece of ‘news’ isn’t actually new. As I reported in my Jay Z biography, Empire State of Mind, the Brooklyn-born mogul has had a financial interest in Armand de Brignac since its inception – helping boost his net worth to $520 million, by Forbes latest estimate – as the $300-per-bottle champagne has become one of hip-hop’s favorite brands.
There’s lots more background and detail from the author on how he separately had a hard time nailing down this bit of Jay Z history. We thank him for showing us what Jay Z has really got in this case.