How's it going for Champagne and sparkling wine? (4)
I believe the answer is:
cava
I believe this clue is a double definition.
'how's it going for champagne' is the first definition.
('ca va' is 'how are you' in French eg in Champagne)
'sparkling wine?' is the second definition.
(Spanish sparkling wine)
'and' is the link.
(Other definitions for cava that I've seen before include "sparkling drink" , "Spanish bubbly" , "Spanish "champagne"" , "Spanish sparkling white wine" , "Spanish sparking wine" .)