DIAGEO INVESTS IN VODKA/WINE BLEND

Diageo has made a minority investment in a new vodka/wine drink targeted towards women, entitled Nuvo. The blend includes a French vodka, French sparkling wine and exotic fruit nectar created by Raphael Yakoby of The London Group. The drink comes in a pink perfume-shaped bottle and will hit New York and Miami shelves in May. The price falls in the $20 and $33 range.

“Diageo is always looking for ways to grow its business through breakthrough ideas and innovation in beverage alcohol. This investment builds on Diageo’s innovation strategy of taking a stake in small and nimble companies like The London Group that can deliver new ideas,” said Diageo North America's president and chief Ivan Menezes.