Jay-Z and Bacardi have reached an agreement over the D’USSÉ brand amid public litigation. According to a press release, the joint announcement reveals the entities have renewed their partnership, with Bacardi aquiring a majority interest in the multi-billion-dollar brand.
The Hip-Hop veteran will retain a significant ownership stake in the brand.
Growing D’USSÉ over the past decade from an idea to one of the fastest-selling spirits in history has been a blessing,” shared the 53-year-old. “The next phase of this journey will further cement D’USSÉ’s legacy as one of the world’s most respected brands. I am excited to renew this partnership with Bacardi.”
In October 2022, it was revealed that the Reasonable Doubt rapper filed a lawsuit against Bacardi for a lack of transparency in the partnership. It was revealed that Jay-Z exercised his right to a buyout in the previous year. Bacardi was then faced with the task of negotiating “in good faith” on a price.
The Grammy Award-winning artist called the amount initially presented by Bacardi “well below” the value of the D’USSÉ. By November 2022, the lawsuit was estimated to be $2 billion. In January 2023, Hov filed paperwork to move the lawsuit from the United States to Bermuda, where the alcohol company is based.
The partnership began in 2012 when the Brooklyn native teamed with Bacardi to launch D’USSÉ Cognac. According to the press release, D’USSÉ is the best-performing cognac brand, outpacing the strong overall U.S. category CAGR growth by more than 30 percent in the past three years.