In 2023, despite softer wine consumption in China and South Korea, Asia’s wine import market is showing resilience, driven by growing interest in regions like Japan and more recently Thailand. We have ranked the top 10 Asian importers by annual sales revenue, offering insights into the region’s leading players.
This year, Japan takes a prominent position, securing four spots, including the top three importers—a nod to its market sophistication and evolving taste for high-quality wines. South Korea, a market has attracted much attention during the pandemic, also claims two places, as does China, which remains a major force despite notable contractions. Thailand, an emerging player, that’s fast-gaining traction thanks to its landmark tariff removal. The country’s top wine importer rounds out the list, reflecting the country’s expanding wine culture and strong potential.
This ranking provides a snapshot of each importer’s annual sales for 2023 (with two exceptions), guiding readers to understand the businesses shaping Asia’s wine landscape.
Complete profiles are available in the Asia’s Top 50 Wine Importers report, detailing the strengths and strategies of each company in this dynamic market. The 125-page report spans the vast and diverse wine markets of Asia, profiling the leading importers from established giants in Japan, South Korea, China, Singapore, and Hong Kong to emerging growth hubs in Thailand, Vietnam, India, the Philippines, and Taiwan. Each market offers its own unique opportunities, but collectively, they illustrate Asia’s significant role in the global wine landscape.
Scroll through the pages below to find out the top 10 leaders.
No. 10. Independent Wine & Spirits
Revenue: US$ 83.5 million
Country: Thailand
Founded in 1999, Independent Wine & Spirit (IWS) has become Thailand’s largest wine importer by revenue and a key player in the beverage industry.
A major turning point for the company came in 2011 when IWS secured funding and formed a strategic joint venture with Maritime & Mercantile International (MMI), a subsidiary of the Emirates Group. This partnership fueled the company’s expansion and strengthened its foothold in the market.
Headquartered in Bangkok, IWS operates six branches across popular domestic locations, including Samui Island, Phuket, Krabi, and Chiang Mai, serving over 3,500 clients nationwide.
IWS imports a diverse range of wines, spirits, and beverages from global regions like France, Italy, South Africa, New Zealand, and Japan. Its portfolio includes prestigious brands such as Penfolds, Lindemans, and Wolf Blass, as well as long-term partnerships with global icons like E. Guigal, Familia Torres, Villa Maria, and Concha Y Toro.
IWS’s success comes from innovative marketing strategies that engage both consumers and trade partners. IWS combines consumer-focused marketing with trade-centric initiatives, ensuring visibility and engagement across both channels.
After facing initial pandemic challenges, IWS made a strong recovery, with revenue jumping 105% to THB 2.04 billion (US$60.4 million) in 2022, and increasing another 35% to THB 2.76 billion (US$83.5 million) in 2023. With Thailand’s sweeping move to remove its hefty wine tariffs in February this year, the outlook for imported wine growth is bright, promising even greater success for IWS as it continues to lead the industry.
No. 9. Pieroth Japan
Revenue: US$ 89.3 million (from 2020 data)
Country: Japan
Established in 1969, Pieroth Japan was the first foreign wine import business in Japan and now is one of the country’s leading wine importers. Originally a part of Pieroth Wein AG, it was sold in 2021 to Nippon Investment Company for an undisclosed amount.
Pieroth Japan offers a wide selection of premium wines from 22 countries, including Boizel Champagne, self-branded German Rieslings, Italy’s Bibi Graetz, The Prisoner from the USA, and Chile’s VSPT.
The company’s Direct Sales Division provides personalized services, employing over 250 wine sales staff across 35 offices and serving more than 190,000 customers in Japan. It also has a Business Sales Division, established in 1980, which caters to over 15,000 professional clients, including restaurants and hotels, and introduced wholesale distribution targeting retailers and department stores in 2001.
Pieroth’s Product Operations Support Department manages the importation and distribution of wines, ensuring quality control and efficient delivery across Japan. The company can handle 2 million bottles and over 550,000 orders annually.
Pieroth also operates seven wine bars and one lounge under its “World Wine Bar by Pieroth” and “World Wine Lounge by Pieroth” brands, located in airports and urban centers, offering comfortable environments, premium wines, and gourmet food pairings.
With the rise of e-commerce, Pieroth also launched its own online site for direct wine sales.
While the latest revenue figures are undisclosed, its sales reached €80 million (US$89.3 million) in 2020 thanks to strong home consumption.
No. 8. Keumyang International
Revenue: US$ 89.8 million
Country: South Korea
Founded in 1989, Keumyang International is South Korea’s second-largest wine importer by sales. As a pioneer in the industry, it was the first one to introduce Champagne Pol Roger, and Chilean giants San Pedro and Concha y Toro to South Korea.
In 2017, Camus Engineering & Construction Inc. (Camus E&C) acquired Keumyang International, marking its entry into a wine market that has long been dominated by local retail conglomerates
Led by CEO Sang Deok Cho and with a team of around 400 employees, Keumyang operates with the motto “Good Wines by Good People.” The company emphasizes meaningful customer experiences and sustainable growth.
Keumyang imports over 2,500 wines from 14 countries and holds exclusive rights to more than 1,100 products, offering a unique selection.
The company encountered difficulties last year as South Korea’s wine market shrank, leading to a 15.1% drop in total sales, which reached 120 billion won (US$89.8 million).
No. 7. COFCO Wine and Wine
Revenue: US$ 103.7 million (2017 data)
Country: China
COFCO Wines & Wine, established in 2014, is the wine and spirits importing division of COFCO, a major state-owned food processing company in China. The company offers a diverse range of products, including imported wines, spirits, and premium Chinese liquors, with a portfolio that spans 21 wine-producing countries, 169 wine regions, 511 brands, and over 3,000 wines, including popular brands such as Treasury Wine Estates’ Penfolds Max, France’s Chateau de Viaud and Grand Sud, Chile’s Concha y Toro, Spain’s Faustino and Italy’s Antinori.
By 2017, COFCO Wines & Wine had become a leading importer of Bordeaux wines and the largest importer of Australian wines in China.
Despite its short history since 2014, COFCO Wines & Wine operates similarly to traditional wine businesses, focusing on premium branding and expanding its franchise network. As of 2024, it has over 500 retail outlets across China.
In recent years, the company has adopted a lower profile but continues to prioritize fine wines, actively participating in major industry events and opening innovative stores in cities like Jinan and Hangzhou. From July 25 to 26, 2024, it launched a “Wine & Wine Super Store” in Beijing that attracted more than 300 domestic distributors.
While COFCO Group reported profits of over RMB 20 billion (US$144.5 million) in 2023, specific financial details for COFCO Wine & Wine were not disclosed.
However, in previous years, the company reported substantial revenue growth, including an 80% increase in sales volume in 2021. The latest annual sales revenue data of COFCO Wine & Wine dated 2017 at RMB 749.6 million (US$103.7 million) at the peak of China’s imported wine market, with a net profit of RMB 17.96 million (US$2.5 million) and total assets valued at RMB 685 million (US$60.3 million).
No. 6. Walmart (China) Investment Co Ltd
Revenue: US$ 110.4 million
Country: China
Walmart (China) Investment Co., Ltd. is the parent company and importer of Walmart and Sam’s Club in China. As of December 2023, Sam’s Club operates 49 stores across 25 cities, serving over 5 million members, mainly middle-class consumers in first and second-tier cities.
In 2022, Sam’s Club reported sales of RMB 66 billion (US$9.1 billion), with revenue increasing to approximately RMB 80 billion (US$11.04 billion) in 2023. Sam’s Club is one of the few large retail outlets in China to experience significant growth recently.
Most boutique wines, the main focus of Sam’s Club’s wine section, are directly sourced by Walmart, allowing for lower prices without intermediary markups. For example, a bottle of Napa Valley dry red wine costs RMB 178 (US$24.5), while Amarone and Champagne are priced at RMB 228 (US$31.5).
This pricing strategy has helped Sam’s Club gain market share from traditional liquor stores. While specific wine sales figures aren’t publicly available, insiders indicate that Sam’s Club saw double-digit growth in wine sales during the pandemic, exceeding RMB 800 million (US$110.4 million) in 2023, with total sales of around 5 million bottles.
Looking ahead, at least 20 new Sam’s Club stores are set to open across China between 2024 and 2027, including locations in major cities like Beijing, Shanghai, and Guangzhou.
No 5. Shinsegae
Revenue: US$ 130 million
Country: South Korea
Shinsegae Liquor & Beverage has been South Korea’s largest wine importer since 2017 and is a major player in Asia’s wine distribution market. Owned by the Shinsegae Group, which operates in various sectors including property, construction, retail, and hospitality, the company was founded in 2008 to capitalize on the growing drinks market.
The importer sells its wines through various channels under the parent company’s network, such as Shinsegae department stores, duty-free outlets, e-mart, Traders, Emart 24, and specialized wine shops like Wine & More, and Starfield Mall.
In September 2023, Alex Song was appointed CEO during “the most difficult time this year,” as he described, marked by sluggish wine sales following a pandemic boom.
Song also indicated that overstocking and increased warehouse costs during the pandemic have affected the industry.
Under his leadership, the company has undergone significant management and organizational changes, including the addition of a Brand Management Division focused on brand development and consumer experience.
In 2023, Shinsegae Liquor & Beverage reported a 12.5% decline in total sales to 181 billion won (US$130 million).
Despite these challenges, the company remains optimistic about luxury wine sales. In June 2024, it launched the House of Shinsegae, a high-end wine store in Seoul featuring around 5,000 premium wines from renowned labels. Sales of wines priced over 1 million won (US$733) at Shinsegae Department Store increased by over 50% in the first five months of 2024, even as overall wine imports in South Korea had dropped by 12.9% to US$506 million last year.
Additionally, Shinsegae Group has ventured into wine production, acquiring Shafer Vineyards in Napa Valley in February 2022 for approximately US$ 250 million.
Currently, Kris Donghyuk Jung, a former executive at Samsung and AB InBev, serves as the Chief Brand Officer of Shinsegae Liquor & Beverage, and Ji Yoo leads the brand management team and sourcing.
No. 4. Siam Winery
Revenue: US$ 180 million for spirits, beer, domestic and imported wine
Country: Thailand
Siam Winery, founded in 1986 by Chalerm Yoovidhya, is Thailand’s leading wine producer and distributor. Chalerm is also a key figure behind Red Bull’s success, with his family holding a majority stake in this brand, and himself being a major shareholder in Cavallino Motors Company, the official Ferrari dealer in Thailand. In 2024, Forbes ranked him and his family as Thailand’s wealthiest, with a net worth of US$36 billion.
Siam Winery produces a variety of wines, with its flagship SPY Wine Cooler achieving annual sales of 160 million bottles. The company owns two main brands: “Monsoon Valley” and “Mont Clair”. Its winery in Samut Sakhon is the largest in Southeast Asia, with an annual production capacity of over 80 million liters.
In addition to domestic production, Siam Winery also imports wines globally through its subsidiary, Siam Winery Commercial Co. Ltd., offering a diverse selection under its “World of Wines” portfolio. The imported wines come from renowned regions like Australia, South Africa, and Chile, featuring well-known brands such as Gallo, Yellow Tail, McGuigan, Tempus Two, and Robert Mondavi.
The company primarily focuses on the hotel and restaurant markets, utilizing traditional marketing for imported wines, such as tastings and dinners, while promoting domestic wines in a more contemporary approach, including celebrity endorsements and vineyard tours.
In 2023, Siam Winery Commercial Co. Ltd. reported total sales of THB 5.876 billion (US$180 million), a slight decline of 0.53% from the previous year, including revenues from both domestic and imported wines as well as other beverages.
No. 3. Enoteca
Revenue: US$236.4 million
Country: Japan
Enoteca, founded in 1988 by Yasuhisa Hirose, is Japan’s largest fine wine importer and one of the most influential wine merchants in Asia, with operations in South Korea, China, Hong Kong, Singapore, Thailand, Taiwan, and recently, Vietnam. The company specializes in importing, retailing, and wholesaling wine, operating over 60 stores across Japan.
Acquired by Asahi in 2015, Enoteca employed 962 staff by the end of 2023 and reported sales of 34 billion yen (US$236.4 million), making it the largest wine-focused merchant in Asia by revenue.
With the motto “For All Wine Lovers,” Enoteca distributes over 3,000 wines from renowned labels, including France’s Méo-Camuzet, Domaine Leflaive, Bollinger, Leroy, Italy’s San Guido, Valdicava, Australia’s Giant Steps, Yarra Yering, Spain’s Vega Sicilia, and the USA’s Delicato Family Wines.
In 2022, Shinji Hori became president and director, aiming to expand the company’s international market share to 50%, matching its domestic presence. During the pandemic, Enoteca launched its global expansion, beginning in Thailand and Vietnam.
Hori emphasized the company’s strength in multi-region and multi-channel distribution in Asia. Enoteca’s buying team actively participates in major international wine fairs like ProWein and Vinexpo Hong Kong. Hirose, the company’s founder, is a notable figure in the industry, being the only Asian board member of Vinexposium and recognized as one of the 50 most influential people in wine by Decanter magazine in 2013.
No. 2. Mercian
Revenue: US$ 450 million for sochu and wine, both domestic and imported
Country: Japan
Mercian Corporation, founded in 1934, is a leading wine producer and importer in Japan, fully owned by Japan’s drinks giant Kirin Group. Under President Masamitsu Otsuka, the company employs 660 staff and domestically produces wine through Chateau Mercian, Japan’s first privately owned winery, with an annual production of about 50,000 cases in 2023.
Mercian has played a key role in making wine accessible to Japanese consumers, beginning its import business in the 1970s. The company started by importing Tio Pépé from Spain in 1972 and expanded to include wines from Germany, Hungary, and France over the following years. Notably, it secured partnerships with major businesses like Maison Albert Bichot, Rémy Cointreau, Champagne Pommery, and Crus & Domaines de France.
In the 2000s, Mercian strengthened its import operations by acquiring a 44% stake in Nippon Liquor Ltd. in 2005. The latter is a company specializing in premium global brands for luxury hotels and restaurants. Mercian has been the exclusive agent for Burgundy’s Louis Jadot in Japan since 1974, and this partnership resulted in Louis Jadot investing in the company in 2000. The company also owns wineries in France, Spain, and the U.S., including Markham Vineyards in Napa Valley.
In April 2022, Mercian launched the “Pacific Link Project” with Concha y Toro, which aims to boost Japanese wine exports by 1.4 times year-on-year.
While Mercian has not disclosed its specific market share in Japan’s imported wine sector, it is recognized as a market leader. In 2023, according to its representative, the company reported revenue of 64.4 billion yen (US$450 million) in Shochu and wine, marking a 6.5% increase from the previous year, with profits rising to 0.8 billion yen (US$ 5.5 million), recovering from a prior loss.
No. 1. Suntory
Revenue: US$7.25 billion including spirits, wine, beer, and other alcoholic beverages
Country: Japan
Suntory, a leading Japanese drinks company, operates its wine importing business through its subsidiary, Fwines Co., Ltd., which was established in 2003. Fwines took over Suntory’s wine-importing operations in 2006 and has since become a key player in bringing high-quality wines to Japan.
Fwines imports a prestigious portfolio of brands, such as Chateau Lagrange, Mazzei, Cerreto, Bonterra, Chateau Ste. Michelle, William Fevre, Bouchard Pere et Fils, and Catena Zapata. To support its operations, it has a state-of-the-art distribution center in Yokohama, which maintains optimal storage conditions for wines. This facility enables efficient distribution across Japan, covering regions including Tokyo, Kanagawa, Saitama, Chiba, Kyoto, Osaka, Hyogo, and Aichi.
Under President Yukiko Kikkawa, Fwines employs 75 staff and generated revenue of 10.6 billion yen (US$74.3 million) in 2023. Suntory also runs a wine retail chain called Cave de Relax, with five stores in Tokyo.
In addition to importing, Suntory produces its own wines under the brands Tomi no Oka and Iwanohara Vineyard Co., Ltd. It also owns Vinos Yamazaki Co., Ltd. for wine and sake retail and wholesale, and Monte Bussan K.K. for importing Italian wines and food.
Internationally, Suntory owns two Bordeaux grand cru classé wineries, Château Lagrange and Château Beychevelle, as well as properties in Germany and a négociant firm in France. In China, it manages wine and spirits importing through ASC Fine Wines.
In 2023, Suntory reported a total revenue of 2,952.1 billion yen (US$20.47 billion), with the alcoholic beverage segment contributing 35% (1,045.7 billion yen or US$ 7.25 billion) of that total. However, the company did not disclose the contribution made from wine alone.