Miami-based La Fête du Rosé has caught the attention of Miami Beach hotels, Target and Trader Joe’s. Now, the wine label will partner with beverage behemoth Constellation Brands, which recently announced it would acquire a minority stake in the Black-owned company.
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Dive Brief:
The venture capital arm of Constellation Brands will take a minority stake in La Fete du Rosé as part of its Focus on Minority Founders initiative, the company announced this week. This initiative aims to give $100 million to Black, Latinx, and minority-owned businesses by 2030. Terms of the deal were not specified, but La Fete’s CEO Donae Burston told CNBC the funds will be used to expand staff and production.
The 2-year-old Black-owned brand focuses on targeting consumers that are normally looked over, and donating profits to help more BIPOC get into the wine and spirits industry. This new deal will allow the rosé brand to reach more customers, while Constellation will have the opportunity to work with untapped markets.
Constellation Brands invests in La Fête du Rosé Constellation Brands has acquired a minority stake in US rosé brand, La Fête du Rosé.
Founded in 2019 by Donae Burston, a 15-year beverage industry veteran, La Fête du Rosé is focused on Millennial and Gen Z consumers ‘who share common interests across travel, food, experiences and wine.’
The brand is inspired by the popularity of rosé in the French peninsula of Saint Tropez; but built with the intention of a fresh, modern, and inclusive brand geared toward rosé drinkers of all backgrounds. La Fête du Rosé – which translates to the rosé party – is produced in conjunction with winemakers from Domaine Bertaud Belieu, the oldest vineyard on the Saint Tropez peninsula established in 1340.
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Investment marks first as part of Constellation s Focus on Minority Founders initiative and commitment to invest $100 million in Black/minority-owned businesses by 2030
La Fête du Rosé Founder Donae Burston Created a Brand to Serve Millennial and Gen Z, Focused on Shared Values, Taste, and Experiences
VICTOR, N.Y., May 13, 2021- a brand created to cater to diverse drinkers who share common interests across travel, food, experiences, and wine. The investment was made through Constellation s venture capital group and represents the first company to receive investment dollars as part of Constellation s Focus on Minority Founders initiative, which plans to invest $100 million in Black, Latinx, and minority-owned businesses by 2030.