The deal arose from discussions started between Jay-Z and Alexandre Arnault, the 28-year-old son of French billionaire Bernard Arnault, LVMH's chief executive and controlling shareholder. Jay-Z said he first met Alexandre a number of years ago in Paris on a trip with Kanye West. The deal advanced further after Bernard and Alexandre Arnault and Mr. Schaus met with Jay-Z several times at his home in Los Angeles, most recently this summer.
Jay-Z said he expects to collaborate with LVMH on other projects in the future. The allure of luxury for rappers, he said, comes from the desire to celebrate after surviving the despair of the inner city.
"If you put yourself in the shoes of people who come from these neighborhoods, you can understand why someone who -- five of their six friends have passed away -- would want to celebrate life," Jay-Z said. "We're connecting with things that are well made, and things that survive."
Write to Matthew Dalton at Matthew.Dalton@wsj.com
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