By Denise Garcia
- Rosé pushing chardonnay wines to 16% market share
- 2017 July 4th Rosé sales raked in $25.2M
Emmy-nominated singer-songwriter John Legend is getting into the rosé business, as the de facto summer beverage gains momentum. The rosé is the fourth wine he’s had a hand in producing under the LVE label, which stands for Legend Vineyard Exclusive. Just how ripe is the market for new rosé products?
Why This Matters: The Millennial pink obsession has spawned rosé into a goldmine, with the table version making 48% of its sales in the warmer months, according to research company Nielsen. Right on time to quench the season’s thirst, LVE which is the musician’s wine label in partnership with French vintner Jean-Charles Boisset, launched it’s pink Provence blend.
Just in the two weeks nearing July Fourth in 2017, rosé blends raked in $25.2 million, while sparkling rosé ushered $5.9 million in off-premise sales. For context, that’s a relatively small number when it comes to sales of domestic premium beer, which brings in $648 million.
Rosé influence extends beyond just the summer season. Its inspired pop-ups such as the Rosé Mansion in New York, to music festivals like Pinknic, and a variation of cocktails that cater to those seeking Instagram photo ops. The ubiquitous libation is even expanding wine sales, pushing chardonnay’s market share up two percent in the short span of two years.
Situational Awareness: It’s important to note the image of fine wine makers and pundits is typically associated with white men. Legend’s wine venture expands the conversation to include the black folks in the wine industry. The “All of Me” singer is a vocal activist, who is also hoping to shape national conversation through his Free America non-profit, which focuses on abolishing mass incarceration and the school-to-prison pipeline.
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