If there ever was any doubt that Asia, particularly Singapore, is a big player in the wine business, this latest bit of news will vanquish it.
Here’s
what was reported recently in the Wall Street Journal:
Mr. Parker intends to phase out the print version of the newsletter [The Wine Advocate], which he built over the past several decades into one of the most influential voices on wine. He also said he intends to step down as its editor in chief, turning over editorial oversight to his Singapore-based correspondent, Lisa Perrotti-Brown.
Finally, the fiercely independent publication—which Mr. Parker has often described as inspired by his hero, consumer advocate Ralph Nader—will start accepting advertising, though none that is wine-related.
The moves in part reflect Asia's rise as a prime consumer of wine and other luxury goods. Mr. Parker said he is selling a "substantial interest" in the Wine Advocate to a trio of Singapore-based investors who will take over its day-to-day financial operations.
There are plans to find a new correspondent, likely based in China, to cover the emerging Asian wine producers.
The 65-year-old Parker will continue to review the wines of Bordeaux and the Rhone for the newsletter, and will no doubt enjoy the free time in France and at his home in Maryland, his writing chair made more comfortable by a fat wallet.
