French Bloom, a luxury nonalcoholic sparkling wine maker, recently received a significant minority investment from Moët Hennessy. The financial details of the deal were not disclosed.
Launched in 2021, French Bloom is now available in more than 30 countries. Crafted with French chardonnay and pinot noir blends, the brand aims to cater to the increasing demand for high-quality nonalcoholic wine options.
Philippe Schaus, CEO of Moët Hennessy, praised French Bloom as a pioneer in the nonalcoholic wine category. He stated, “This investment reflects our commitment to providing premium alcohol-free alternatives to consumers who choose to moderate their alcohol consumption. We believe that combining our expertise in Wines and Spirits with French Bloom’s innovative approach will shape the future of this category.”
Rodolphe Frerejean-Taittinger, CEO of French Bloom, expressed confidence that Moët Hennessy’s support will accelerate the brand’s growth in the evolving nonalcoholic market.
The investment comes at a time when LVMH, the parent company of Moët Hennessy, reported a decline in wine and spirits revenues. This shift in consumer behavior towards moderation has prompted adult beverage companies to diversify their offerings with no and low-alcohol alternatives.
Diageo, the maker of Guinness, recently acquired Ritual Zero Proof Non-Alcoholic Spirits to expand its portfolio with booze-free options. While the nonalcoholic wine category is a niche market, it was valued at $2.26 billion in 2023 and is projected to grow steadily in the coming years.