The St. Pierre family founded ASC Fine Wines in 1996, and it grew into one of China’s largest wine importers.
Suntory purchased the company 15 years ago, but the founders have now completed a deal to buy ASC Fine Wines back from the Japanese group.
The long-anticipated deal was finalised on 2 June after both parties formally signed the share purchase documents.
Don St. Pierre Jr., executive chairman and CEO, who co-founded the company with his father, said on Tuesday: ‘Today marks both a homecoming and a springboard into the future.’
He unveiled a new strategy called ASC NextGen, which is designed to meet the next wave of opportunity for wine sales in China. ‘ASC NextGen is about scaling our legacy with renewed energy, agility and innovation,’ he said.
The revamped strategy focuses on three pillars:
- Reinforcing ASC’s traditional distribution strengths across major cities and online retailers.
- Expanding direct to consumer sales, primarily via digital tools, social media and a newly launched membership club called The VintEdge Society.
- Introducing brand partnerships tailored to meet China’s complex market dynamics.
ASC has partnered with a renowned logistics group called GFS in a bid to deliver upon this bold new vision. GFS will provide dedicated infrastructure and warehouse support across 23 of China’s largest cities.
‘Our collaboration ensures quality, reliability and innovation at every step of the wine journey,’ said Jianmin Yu, chairman of GFS.
The ASC portfolio features more than 1,200 labels, which have been sourced from more than 100 wineries, including famous names like Vega Sicilia and Banfi.
Monica Xu St. Pierre, lead director at ASC, added: ‘This is about unlocking the full potential of our people and our culture, while shaping a sophisticated wine experience in China.’
