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MacKenzie Scott alone accounted for one-third of America's $19.2 billion in megagifts last year

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MacKenzie Scott alone accounted for one-third of America's $19.2 billion in megagifts last year

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Philanthropy leader at Warren Buffett and Bill Gates’ Giving Pledge says children of billionaires are pushing them to give their wealth away faster

3

Elon Musk on MacKenzie Scott giving away $26 billion of her fortune: 'Sadly,' it makes the world a worse place
RetailTarget

Target Is Launching Its Own $5 Bottle of Sangria

By
Chris Morris
Chris Morris
Former Contributing Writer
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By
Chris Morris
Chris Morris
Former Contributing Writer
Down Arrow Button Icon
May 7, 2019, 12:54 PM ET
Target California Roots Sangria
Courtesy of Target (2)Courtesy of Target (2)
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On the heels of its successful launch of bargain wines, Target is expanding the selection to include sangria. And, just like its predecessors, it’s only going to cost you $5.

The company’s California Roots line will unveil the sangria starting on May 20 at all of its locations that are licensed to sell alcohol. As of a year ago, that was about 80% of the chain’s locations.

Target has seen success with its line of cheap wines, last expanding the offerings last April with the introduction of a rosé. The wines have been well received by critics, too, earning “Best Buy” scores from Wine Enthusiast.

Target is one of several retailers who has discovered that cheap wines that don’t taste like swill are a good way to earn customer loyalty. Walmart unveiled its own line in 2018 (with prices starting at a beefier $11 per bottle) after seeing Target’s success. Even The Olive Garden has an exclusive line.

And, of course, Trader Joe’s has long known the benefits of discount vino, building a reputation on its Two-Buck Chuck (which, due to inflation, is now $3 and more per bottle).

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About the Author
By Chris MorrisFormer Contributing Writer

Chris Morris is a former contributing writer at Fortune, covering everything from general business news to the video game and theme park industries.

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