The news: LVMH is moving into nonalcoholic beverages by buying a 30% stake in the high-end French nonalcoholic sparkling wine brand French Bloom, per The Wall Street Journal.
French Bloom, which launched in 2021, is on track to produce nearly 500,000 bottles this year.
The brand’s sparkling white and rosé sell for $39 and $44, respectively. Its latest release, La Cuvée Vintage 2022, retails for $119 a bottle.
