Constellation Brands invests in La Fête du Rosé
Founded in 2019 by Donae Burston, a 15-year beverage industry veteran, La Fête du Rosé is focused on Millennial and Gen Z consumers ‘who share common interests across travel, food, experiences and wine.’
The brand is inspired by the popularity of rosé in the French peninsula of Saint Tropez; but built with the intention of a fresh, modern, and inclusive brand geared toward rosé drinkers of all backgrounds. La Fête du Rosé – which translates to "the rosé party" – is produced in conjunction with winemakers from Domaine Bertaud Belieu, the oldest vineyard on the Saint Tropez peninsula established in 1340.
The investment was made through Constellation’s venture capital group and represents the first company to receive investment dollars as part of Constellation’s Focus on Minority Founders initiative, which plans to invest $100m in Black, Latinx, and minority-owned businesses by 2030.
Bill Newlands, Constellation’s president and CEO, said: “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 premiumization 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.”
Since its debut, La Fête du Rosé has donated a portion of its proceeds to programs that send disadvantaged and underrepresented youth on unique travel experiences and to organizations focused on advancing racial justice and creating opportunities for people of color in the wine & spirits industry.
Focus on Minority Founders is part of Constellation’s racial justice action plan: aimed at achieving greater equity for African American/Black and minority colleagues at Constellation, within the beverage alcohol industry, and within the communities where the company operates. The initiative seeks to support the growth and development of Black and minority-owned businesses by providing funding and access to sales, marketing, operations, and finance expertise through the Constellation Brands Ventures team and experts.
Earlier this year, Constellation announced a $10m investment through Focus on Minority Founders in the Clear Vision Impact Fund, LP: a newly-formed investment vehicle founded by Siebert Williams Shank & Co., LLC, with an objective of making investments in minority-owned businesses, with an emphasis on African American/Black-owned businesses.
The initiative is inspired by Constellation’s Focus on Female Founders program, which is committed to investing $100m in female-owned and founded companies. Since its launch in 2018, Constellation’s Ventures portfolio mix has shifted from 20% female-owned to more than 50% female-owned.