LVMH's Moët Hennessy teams up with Campari in wines, spirits e-commerce venture

FILE PHOTO: Bottles of wine are seen on display for sale in a wine shop in Paris, France, April 19, 2021. REUTERS/Sarah Meyssonnier

MILAN (Reuters) - LVMH's Moët Hennessy and Italy's Campari have agreed to team up to invest in wines and spirits e-commerce companies and create a European ecommerce player in the sector.

In a statement on Monday, the two groups said Campari would transfer its stake in online wines and spirits company Tannico into a newly set up joint venture.