Walmart raising glass to its own private wine label

- Walmart is popping the cork on its own wine.

The retail giant is launching its “Winemakers Selection” of private label wine in 1,100 stores. The company says the collection is sourced from California, France and Italy, and it will retail for about $11 a bottle.

Walmart is looking to win over more affluent shoppers with more up-market fare and services. 

U.S. consumers spend an estimated $62 billion on wine annually, according to “Wines and Vines” magazine. 

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