SHANGHAI — Don St. Pierre Jr. has reacquired full ownership of ASC Fine Wines from Japanese beverage giant Suntory, finalizing the transaction on May 31, 2025. The move marks a significant homecoming for St. Pierre, who originally co-founded ASC with his father in 1996, and signals a renewed entrepreneurial phase for one of China’s most influential wine importers.
Despite speculation, St. Pierre emphasized that the reacquisition was not a premeditated motive behind his and his wife Monica Xu St. Pierre’s recent return to China.
“I heard the rumours too,” he remarked with a smile. “No, we moved back to China first. This sale was unplanned. We maintained a good relationship with Suntory over the years. It was serendipitous and both of us felt the sale made sense.”
St. Pierre noted that the transition of ownership was notably smooth due to Suntory’s responsible management practices. “Normally, acquiring a distribution business in China would entail challenges around balance sheet liabilities and asset valuation. Suntory, however, managed ASC’s business in a way that minimised liabilities,” he said. “While inventory levels were on the high side, we fully expected that given how challenging market demand has been over the past 24 months.” Importantly, he added, every brand in ASC’s portfolio has expressed support for the move, and no brand departures are expected as a result of the buyback.
While Suntory is also a family-run enterprise, St. Pierre acknowledged its corporate roots and its uniquely Japanese operating style. “Suntory’s motto of yatte minahare — best translating to ‘seize the day’ — is more entrepreneurial than most corporations,” he said. “We will keep this spirit as we believe it aligns well with important aspects of our own values. As a much smaller family business, though, we are even more entrepreneurial. We plan to streamline the organisational structure and increase the speed at which decisions are made.”
The St. Pierre family has a long history in China’s commercial evolution. In 1985, Don St. Pierre Sr. played a pivotal role in establishing Beijing Jeep, the U.S.’s first automotive joint venture in China. That experience later inspired the family’s venture into wine. “In 1996, my father and I helped introduce wine to China and contributed to early efforts to build the foundation for wine culture here,” said St. Pierre. “Now, 40 years later, Monica and I have this unexpected opportunity to buy back ASC and build a new platform for wine consumption.”
Beginning June 1, the ASC team will initiate a comprehensive restructuring. Plans include reviewing portfolio segmentation across evolving sales channels in China, strengthening logistics partnerships, and expanding the team where necessary. The company also aims to enhance efficiency and national scalability through partnerships with leading warehouse and logistics firms.
Another major focus will be building a direct-to-consumer division to complement ASC’s existing relationships with China’s leading e-commerce platforms. With digital retail gaining ground, the strategy reflects broader shifts in consumer behavior.
“The business of wine today is much less about gifting and entertainment, and more about communication, experience and value,” said St. Pierre. “Telling authentic stories directly to our customers with the strong support of the brands we represent in China is how we will move forward.”
He also pointed to the market’s increasing fragmentation. While on-premise sales remain important, the emphasis has shifted to off-premise, retail, and digital channels. “The ability to leverage China’s digital platforms is critical to our future success,” he added.
ASC is also tapping into local influencer culture to amplify brand storytelling, leveraging platforms such as BiliBili and XiaoHongShu (Little Red Book), as well as hosting events with celebrity KOLs, such as during the Chengdu Wine Fair in March 2025.
“The wine industry doesn’t lack for stories — stories about family and history, authentically told,” St. Pierre concluded. “That’s how we will move forward to build new relationships.”
With the buyback complete and a new strategic direction in motion, ASC under the St. Pierre family is poised to adapt and lead in an increasingly competitive and digitally driven wine market in China.
