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LVMH's Moet Hennessy is buying a 50 per cent stake in rap star Jay-Z's Armand de Brignac champagne brand, the latest luxury brand to try to broaden its appeal with a celebrity tie-up.
"I'm proud to welcome the Arnault family into ours through this partnership," the "Empire State of Mind" singer said in a statement, referring to the family that runs LVMH.
Financial terms of the deal, which was reported earlier by the Wall Street Journal, Financial Times and New York Times, were not disclosed.
Historic luxury brands around the world have struck partnership deals with celebrities, seeking to appeal
