Walmart is popping the cork on its own private label wine; $11 per bottle

MILWAUKEE -- Walmart is popping the cork on its own wine.

The retail giant is launching its "Winemakers Selection" of private label wine in 1,100 stores. The collection is sourced from California, France and Italy.

It will retail for about $11 per bottle.

Walmart is looking to win over more affluent shoppers with more up-market fare and services, as organic and high-quality fresh foods move from the margins to the mainstream.

With this move, Walmart is also aiming for a swig of the hottest segment of the alcoholic beverage industry.

Customers in the United States spend an estimated $62 billion on wine annually, according to "Wines and Vines" magazine -- and millennials have become a key wine-consuming group.