Don St. Pierre Jr reveals whats next for ASC Fine Wines
Don St. Pierre Jr shares his plans for ASC Fine Wines as the company returns to family ownership following a decade under Suntory. Rebecca Lo reports. The post Don St. Pierre Jr reveals whats next for ASC Fine Wines appeared first on The Drinks Business.
Don St. Pierre Jr shares his plans for ASC Fine Wines as the company returns to family ownership following a decade under Suntory. Rebecca Lo reports.
On 31 May 2025, the transaction for Don St. Pierre Jr to reacquire 100% ownership of ASC from Suntory was finalised. It marks full circle for the man who founded ASC in 1996 with his father. Yet he is quick to emphasise the sale was not the reason he and wife Monica Xu St. Pierre moved back to Shanghai.
“I heard the rumours too,” he chuckled. “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.
“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. While inventory levels were on the high side, we fully expected that given how challenging market demand has been over the past 24 months. Plus, every brand ASC represents has welcomed our announcement, so we don’t anticipate losing any brands due to the buyback," he said.
St. Pierre appreciates that while Suntory is a family business just like his, it is a corporate entity with a very Japanese way of doing things. “Suntory’s motto of 'yatte minahare' — best translating to ‘seize the day’ — is more entrepreneurial than most corporations,” he explained. “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 modern China: Don St. Pierre Sr first arrived to run Beijing Jeep in 1985. The US’s first automotive joint venture in China helped pave the way for foreign investment in the country.
“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. We are excited about this third phase in our family business, and the chance to help redefine the wine market for both consumers and producers.”
Starting 1 June, St. Pierre and his team will begin reorganising the company to leverage its extensive network of wine professionals, hiring new team members where necessary. They will review in detail how its portfolio is segmented relative to sales channel evolutions over the years across China, to identify any gaps. The team will look to partner with best-in-class warehouse and logistics firms to scale up across the country while reducing costs. With the exponential growth of e-commerce during Suntory’s ownership, they plan to create a direct-to-consumer division that complements ASC’s current business with major Chinese e-platforms.
“The business of wine today is much less about gifting and entertainment, and more about communication, experience and value,” observed 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. The market has also diversified a lot: on-premise doesn’t represent the same value to wine sales as it once did but it still plays its vital role. Off-premise, retail and digital sales are much more relevant today. The ability to leverage China’s digital platforms is critical to our future success.”
Along with narratives told traditionally through short videos, tapping into the Chinese influencer culture has proven important for reaching new markets. Events featuring celebrity KOLs such as at Chengdu Wine Fair and popular apps such as BiliBili and XiaoHongShu (Little Red Book) help spread the word.
“The wine industry doesn’t lack for stories,” stated St. Pierre. “Stories about family and history, authentically told. That’s how we will move forward to build new relationships.”
On 31 May 2025, the transaction for Don St. Pierre Jr to reacquire 100% ownership of ASC from Suntory was finalised. It marks full circle for the man who founded ASC in 1996 with his father. Yet he is quick to emphasise the sale was not the reason he and wife Monica Xu St. Pierre moved back to Shanghai.
“I heard the rumours too,” he chuckled. “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.
“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. While inventory levels were on the high side, we fully expected that given how challenging market demand has been over the past 24 months. Plus, every brand ASC represents has welcomed our announcement, so we don’t anticipate losing any brands due to the buyback," he said.
St. Pierre appreciates that while Suntory is a family business just like his, it is a corporate entity with a very Japanese way of doing things. “Suntory’s motto of 'yatte minahare' — best translating to ‘seize the day’ — is more entrepreneurial than most corporations,” he explained. “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 modern China: Don St. Pierre Sr first arrived to run Beijing Jeep in 1985. The US’s first automotive joint venture in China helped pave the way for foreign investment in the country.
“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. We are excited about this third phase in our family business, and the chance to help redefine the wine market for both consumers and producers.”
Starting 1 June, St. Pierre and his team will begin reorganising the company to leverage its extensive network of wine professionals, hiring new team members where necessary. They will review in detail how its portfolio is segmented relative to sales channel evolutions over the years across China, to identify any gaps. The team will look to partner with best-in-class warehouse and logistics firms to scale up across the country while reducing costs. With the exponential growth of e-commerce during Suntory’s ownership, they plan to create a direct-to-consumer division that complements ASC’s current business with major Chinese e-platforms.
“The business of wine today is much less about gifting and entertainment, and more about communication, experience and value,” observed 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. The market has also diversified a lot: on-premise doesn’t represent the same value to wine sales as it once did but it still plays its vital role. Off-premise, retail and digital sales are much more relevant today. The ability to leverage China’s digital platforms is critical to our future success.”
Along with narratives told traditionally through short videos, tapping into the Chinese influencer culture has proven important for reaching new markets. Events featuring celebrity KOLs such as at Chengdu Wine Fair and popular apps such as BiliBili and XiaoHongShu (Little Red Book) help spread the word.
“The wine industry doesn’t lack for stories,” stated St. Pierre. “Stories about family and history, authentically told. That’s how we will move forward to build new relationships.” 
