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Chris Paul Adds Wine Company to the CP3 Portfolio

Last Updated: October 17, 2022
The future Hall of Famer is now an equity stakeholder inLa Fête Wine Company, which places an emphasis on diversity and inclusion in the wine and spirits industry.

On Monday, Phoenix Suns point guard Chris Paul joined a new team. He’s now a part of the La Fête Wine Company family as an equity partner, Founder and CEO Donae Burston announced.

“I’m thrilled to partner with La Fête Wine Company and work with them to continue to grow the business and fulfill their brand vision,” CP3 said in a release. “I fully support their efforts in creating a better and more equitable society by helping underserved youth, advancing racial justice, and making wine more inclusive.” 

Founded in 2019,La Fête set out to be an open, inviting brand geared toward drinks from all backgrounds.

When the brand launched in 2019, La Fête Wine Company released its La Fête du Rosé. Since then the award-winning drink can be found in over 40 markets across the US and online.

La Fête du Blanc, a white wine also produced in the South of France, debuted as a limited-release and quickly sold out as well. Due to its success and demand, La Fête du Blanc will be released as a permanent line in 2022. The team also has a third wine in production slated for a 2022 release.

In May 2021, La Fête became the first company to secure an investment from Constellation Brands Ventures as part of their initiative to invest $100 million in African American/Black and minority-owned businesses in beverage alcohol and adjacent categories by 2030. 

The Wine company is just one of CP3’s latest investments. Paul joined media flow management software firm Greenfly as a strategic investor in August of last year. The 11-time All-Star is also an investor in the financial tech company Goalsetter.

Outside of tech, CP3 has bought into Koia, a 100% plant-based nutrition shakes company, and Misha, a plant-based dairy alternative company. In entertainment, Paul’s his production company Ohh Dip!!! has produced the ESPN+ basketball series Why Not Us focused on HBCU sports teams

“Not only is Chris an incredible athlete and businessman, but he’s also a wine enthusiast who is vocal and passionate about representation and inclusivity in the wine industry,” Burston. “He is a natural fit for our team, and we are thrilled to have him on board.”

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About The Author
Randall Williams
Randall Williams
Randall Williams is a Staff Writer covering sports business and music for Boardroom. Before joining the team, he previously worked for Sportico, Andscape and Bloomberg. His byline has also been syndicated in the Boston Globe and Time Magazine. Williams' notable profile features he has written include NFL Executive VP Troy Vincent, Dreamville co-founder Ibrahim Hamad, BMX biker Nigel Sylvester and both Shedeur and Shilo Sanders. Randall, a graduate of "The Real HU" - Hampton University - is most proud of scooping Howard University joining Jordan Brand nearly three months before the official announcement.