Last year, Constellation Brands announced a multimillion-dollar investment programme to promote diversity in the wine market. By 2030, the mega-corporation plans to invest $100 million in diverse businesses owned by people of colour and other minorities through its Focus on Minority Founders initiative.
Now Constellation has made its first investment, acquiring a minority stake in black-owned rosé brand La Fête du Rosé. In addition to providing funding, the company will also receive sales, marketing and operations support.
The company was founded in 2019 by Donae Burston in St Tropez. The brand is known for its fresh style with lower alcohol content and is aimed at "diverse drinkers who share common interests across travel, food, experiences, and wine." The wine is produced in collaboration with Domaine Bertaud Belieu, the oldest vineyard on the Saint-Tropez peninsula, founded in 1340.
"People like to see themselves in anything, and that's what we're trying to do with La Fête du Rosé — create an exceptional liquid and brand that's focused on reaching a wider audience," said Burston, founder and CEO of La Fête du Rosé.
"It has taken a lot of hard work to get the brand to where it is today. Constellation Brands is the right partner to allow us to scale the brand in a way that stays true to its ethos."
Since its launch, the brand has donated a portion of the proceeds to various programmes that support disadvantaged youth, as well as organisations that work to combat racism and provide more equal opportunities for people of colour in the wine and spirits industry.
"We're thrilled to jumpstart our Focus on Minority Founders initiative with an investment in a fantastic consumer-oriented brand and with a dynamic and proven industry leader behind it in Donae Burston," said Bill Newlands, Constellation's president and CEO.
"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. 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 premiumisation strategy. La Fête du Rosé is certainly that, as Donae has taken a consumer-first approach to building a distinctive rosé brand that authentically reflects today's multicultural consumer values."
Back in March, Constellation announced it would invest $10 million in the Clear Vision Impact Fund, LP, which provides loans to minority-owned businesses, as part of its diversity programme. aw
