Dive Brief:
- Rapper, entrepreneur, and mega-celebrity Jay Z has purchased luxury champagne brand Armand de Brignac.
- Jay Z is a longtime fan of the brand. He appears in public often with its recognizable bottles, and the drink was featured shortly after it launched in 2006 in the video,"Show Me What You Got."
- Terms of the deal were not disclosed, but Sovereign Brands said Jay Z approached the company with "an offer we simply couldn’t refuse."
Dive Insight:
It would appear that Jay Z is arriving a bit late to the buy-a-booze-brand party. Seemingly everyone who is anyone has alreadybought a tequila label.
Our advice to Beyoncé's husband is that if he doesn't want to be left behind, he should pick up the pace a bit andstart shopping for a farm now.
