Last June, alcohol giant Constellations Brands Inc. committed to a $100 million investment in Black, Latinx, and minority-owned businesses in the spirits industry over the next decade. Now the major player in the industry is making good on its promise by working with Black-owned wine brand La Fête du Rosé.
According to Essence, the Miami-based rosé label has become one of the many go-to wines for consumers, and with the help of Constellation Brands’ investment, the brand will grow to be even bigger.
Constellation Brands Inc. announced that the company would acquire a minority stake in the wine label, making this its first attempt to make good on its June 2020 pledge.
“Minority-owned businesses are under-represented in our industry and there is a real need to make it more equitable for those businesses to receive access to capital,” Constellation Brands president and CEO Bill Newlands said. “This initiative enables us to play a role in creating greater equity within our industry and provides an opportunity for us to work with bold leaders and brands with unique value propositions that align with our premiumization strategy. La Fête du Rosé is certainly that, as Donae [Burston] has taken a consumer-first approach to build a distinctive rosé brand that authentically reflects today’s multicultural consumer values.”
La Fête du Rosé launched back in 2019 with a mission to dispel misconceptions about rosé wine and the people who drink it, particularly minority wine drinkers.
“We wanted to create a rosé wine that would be taken seriously. A luxury brand marketed toward everyone,” founder Donae Burston told the Miami Herald. “For so long, minority wine drinkers were overlooked. We weren’t seen as serious consumers in this space.”