Diageo Takes Minority Investment in Nuvo, an Ultra-Premium French Sparkling Wine

26/04/07 In an extension of its global innovation strategy, the world's leading spirits, beer and wine company, Diageo, announced that it has made a minority investment in Nuvo, a new ultra-premium effervescent blend of fine French vodka, French sparkling wine, and exotic fruit nectar created by Raphael Yakoby of The London Group LLC, the entrepreneur behind Hpnotiq.

"Whether it is at a spa, or buying that limited edition handbag or a $400 pair of shoes, today's women are willing to spend more on themselves," said Yakoby. "Nuvo is the first of its kind among alcohol beverages that allows women to pamper themselves with something truly luxurious."

With a distinctive bottle and a pink color, Nuvo transcends the liqueur category and leverages the popularity of cocktails, wines and blended liqueurs among women. The liquid is a blend of vodka, sparkling wine and natural fruit nectar, and carbonated to create a unique light and refreshing taste. Like Hpnotiq, Mr Yakoby is creating a proposition where ultra-premium stand-out packaging is critical. The bottle design is inspired by perfume: sleek and elegant with a unique square shape.

"We are very pleased to team with a proven entrepreneur like Raphael Yakoby," said Ivan Menezes, President & CEO of Diageo North America. "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."

"This is a great example of a big company acting small to leverage the entrepreneurial spirit," said Larry Schwartz, President of US Spirits, Diageo North America.

Nuvo will initially roll out in May in New York and Miami with additional US cities to follow. It will be distributed in New York by Empire Distributing and in Miami by Southern Wine & Spirits. Nuvo will be available in 200ml and 375ml bottles and will be priced in line with other ultra-premium spirits.