LVMH, Louis Vuitton Moët Hennessy, a large French luxury conglomerate, recently bought the well-known Joseph Phelps winery in Napa Valley. Joseph Phelps founded his estate in 1973 and the following year he launched the first vintage of his prestigious cuvée Insignia with cabernet sauvignon as the dominant grape variety.
This is not LVMH’s first purchase outside of Europe. In 2003, they bought New Zealand’s Cloudy Bay in Marlborough. But LVMH apparently lacked a strong red brand. With Cloudy Bay they got white wines and a few years ago they bought Château d’Esclans, a Provence estate which specializes in rosé wines.
And LVMH is of course very well equipped when it comes to aperitif wines with champagne houses such as Moët & Chandon, Veuve Clicquot, Krug, Ruinart and Dom Pérignon. Hennessy Cognac completes the meal.
Read more: cnbc
