I have so many thoughts about this deal. One congrats to Jay, (📸 @ravieb) He continues to lay a Blueprint for black entrepreneurs and he is an inspiration.
Secondly Louis Roederer (Cristal) continues to live with the stain of the brand’s comments on support from the hip-hop community. Sure Cristal is a prestige champagne brand but they would for sure want the brand position that Armand currently holds.
To say that Jay-Z turned an obstacle into an opportunity is an understatement. A part of me doesn’t like this, not as a hater but I think a 100% black-owned ultra prestige champagne brand was something that never got enough respect. Overall though you can’t argue with the amazing distribution network and know-how of LVMH. Having sold their brands in the past I can only imagine the heights that Armand can reach now. 🍾 #atasteoftheculture