Sam’s Club wants in on the wine boom.
The Wal-Mart Stores-owned wholesale club chain is launching its first ever house brand wines this year, with its eyes firmly on the bonanza reaped by archrival Costco Wholesale (COST, +0.25%), the largest wine retailer in the country.
Sam’s, which operates some 650 U.S. clubs, recently introduced an $8 Chardonnay from California’s central coast under its Member’s Mark store brand, and this year will start selling a Cabarnet from Napa Valley, a prosecco and a champagne under that label as part of an initiative announced on Wednesday.
