According to a report from the news agency, Agence France Presse, the prestigious Bordeaux wine producer, Chateau Cheval Blanc, owned by LVMH chief executive, Bernard Arnault, and the Argentine wine company, Bodegas Chandon, are to form a joint venture in Argentina. The venture is to produce a top quality wine in Argentina under the Cheval des Andes brand name.

The high quality red wine, a blend of Malbec and Cabernet Sauvignon, will retail for around US$80 a bottle.

Bodegas Chandon is part of LVMH and is the country's leading producer of sparkling wines.