Sparkling Pomegranate Pitcher Cocktail

*For the Pomegranate Reduction: In a small saucepan, bring pomegranate juice to a boil over high heat, then reduce to a simmer and cook until reduced to 3 ounces (6 tablespoons), 10 to 15 minutes. Let cool. Store in an airtight container up to 1 month.

For the cocktails: In a pitcher, add the pomegranate reduction, Cocchi Rosa, and lime juice. Top with sparkling wine and gently stir to combine. To serve, divide between 4 glasses filled with ice. Express orange oil from twists over each drink, then add twists to each glass to garnish.