For Louis Vuitton Moët Hennessy SE aka LVMH, it’s rosé everyday. On Friday, the French luxury goods, wine, and spirits megalith announced that their portfolio now includes a 55% stake in Chateau d’Esclans, a Var region of southeastern France. You may know Chateau d’Esclans as the producer behind Whispering Angel, Rock Angel and Garrus.
“We are very proud to partner with Château d’Esclans, the famous estate producing high-quality rosé wines in Southern France,” said Moët CEO Philippe Schaus in a statement.
In 2006, Sacha Lichine acquired Château d’Esclans. Two years later, he sold 50% to Alix AM PTE who came onboard as a limited partner. Under the new deal Moët Hennessy will purchase all of Alix’s shares plus an additional 5% of the vineyard from Lichine.
Lichine will stay onboard and continue to work with the brand. retaining him was seen as key as Lichine is considered a major force in rosé’s recent rise to popularity—the concurrent rise of day drinking in the States didn’t hurt either.
“I am delighted by the alliance with Moët Hennessy and the ability, through the backing of this great group, to continue to develop the estate in producing excellent Provence Rosés to present and share with my clients across the globe,” said Lichine. “In purchasing Château d’Esclans in 2006, my aim was to produce a rosé wine in the manner of a fine wine. Today, with the Château d’Esclans team, I created a portfolio of wine brands known in France and internationally and intend to maintain strong growth over the next several years.”
The vineyard is located in the Esclans Valley on the heights of La Motte. The estate stretches is comprised of 267 hectares of which 74 hectares are planted with high end AOP Côtes de Provence. Following the acquisition, another 60 acres will be planted with the better grapes according to LVMH.
Selling for about $15 a bottle, the venture into a rosé marks a deviation from LVMH’s focus on premium and super premium wines such as Dom Perignon, Veuve Clicquot, and several Grand Cru Burgundies.
Terms of the deal were not disclosed.