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.