Dr. Dre has saluted JAY-Z’s major champagne deal. On Monday (Feb. 22), it was announced that Hov sold half of his Armand de Brignac champagne brand to LVMH’s wine and spirits division, Moët Hennessy.
On Instagram, Dre congratulated his fellow hip hop mogul.
“Congratulations Jay Z!! Dope AF!!” Dre captioned a photo of himself posted up with a box of Ace of Spades. “That’s Black Excellence.”
According to CNBC, LVMH will now take over the distribution of the champagne. Speaking with Yahoo! Finance, JAY said the luxury giant’s Moët was a “natural partner” and would take his Armand de Brignac to “the next level of taste and distribution.”
Many in the hip hop community praised JAY’s money-making move yesterday. From purchasing a 50 percent stake in the champagne brand in 2006 and buying the rest of the company eight years later, the serial-entrepreneur has gone on to add immense value to the brand. CNBC reports that in 2019, Armand de Brignac sold half a million bottles of champagne.
Dr. Dre wasn’t the only one to congratulate Hov for the successful venture. Tina Knowles-Lawson, Beyoncé’s mother, commended her son-in-law’s business savvy on Instagram.
“... JAY I salute you and your latest venture in selling 50 [percent] of your Champagne Co to LVHM. You are a badass brother and I hope that you continue to pave the way for others like you have in the past!!” she wrote. “And I have seen such extreme kindness and generosity so many times that people don’t even know anything about! You are a true man who has admitted publicly when you’ve made mistakes in a very brave and classy way!”
Knowles-Lawson also applauded JAY’s other entrepreneurial efforts, including Roc Nation’s production partnership with the NFL.
“You have in turn influenced the culture of Young Black Men,” she concluded. “You are a Bad Ass brother. I love you so much!!”
See Dr. Dre’s congratulatory post to JAY-Z below.