So, you're saying you already have some bottles with labels on them? Or just so that you will not have to reprint every time?
If it is the latter one. I have had good results water proofing my labels.
What I did was print the labels on the paper, then take the printed labels (uncut) and spray paint the back of the labels with 2 or 3 coats of white enamel spray paint.
Then, I took automotive clear coat spray paint, sprayed the fronts on the labels with 2 or 3 good coats.
Make sure you let them dry about 5 min or so in between coats, and do not go overly crazy with the spray or the sheets will wrinkle on you. I had good results also, buy stretching the paper and putting weights on the sides to keep it from wrinkling up.
Now you should have a water proof reusable labels.