Jay Z Sells Half Of His Champagne Brand To Lvmh
The deal comes as LVMH has reportedly been trying to diversify its customer base after several public relations blunders and controversies. They recently announced that tennis star Naomi Osaka would be the new LVMH brand ambassador, and partnered with professional skateboarder Lucien Clark on a skate shoe and apparel collection. The deal represents a culmination of Jay-Z’s long relationship to the champagne business. He was famously a proponent of Cristal in his lyrics and his music videos, but in 2006 he stopped informally endorsing that brand after its parent company CEO made racist remarks disparaging the popularity of his own product among hip hop artists and fans....