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  • LVMH's Moet Hennessy is buying a 50% stake in rap star Jay Z Champagne brand Armand de Brignac.

  • It's the latest luxury brand to try to broaden its appeal with a celebrities high up.

  • In a statement, the Empire State of Mind rapper said he's proud to welcome the Are No Family, which runs over the MH into the partnership.

  • 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 been striking partnership deals with celebrities.

  • The trend reveals they're seeking to appeal to younger customers with Jay Z's pop star wife, Beyonce, already involved in the Ivy Park sportswear brand.

LVMH's Moet Hennessy is buying a 50% stake in rap star Jay Z Champagne brand Armand de Brignac.

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