Reported 3 months ago
LVMH has acquired a stake in French Bloom, a producer of premium nonalcoholic sparkling wine, aiming to cater to the rising consumer demand for alcohol-free beverages. This investment represents LVMH's first foray into nonalcoholic drinks as traditional champagne sales see a decline. French Bloom, which focuses on producing high-quality, alcohol-free options, has seen significant growth and is on track to produce around 500,000 bottles this year, selling at prices exceeding $100 for certain varieties.
Source: YAHOO