The meeting room at Pinault Group headquarters was simpler than expected.
Contrary to what one might imagine—something lavish—it contained only a long conference table, leather chairs, and floor-to-ceiling windows overlooking the city of Paris. Yet that very simplicity carried the scent of power. It meant this was a place that had no need to adorn itself.
François Pinault was already seated.
Even in his seventies, his gaze was sharp, befitting the eyes of a seasoned businessman who had led both Kering Group and Christie’s. On either side of him sat five people in total: Latour’s working-level managers and legal team.
Stan, on the other hand, sat alone across from them. He looked at François Pinault with a calm gaze, maintaining such a perfect poker face that it was impossible to tell what he was thinking.
Then, abruptly, he spoke.
“One of my employees travels to Paris often, and he told me I absolutely had to try a restaurant over in Saint-Germain. What was it called... Le Comptoir du Relais, I think. Said it was a real bistro where Parisians go, even without any stars. I was hungry, so I stopped by. I looked at the menu and saw duck confit was the main dish, so I ordered it... It wasn’t bad. But compared to a ribeye steak in Napa Valley, honestly, I wasn’t sure.”
One of Latour’s working staff slightly furrowed his brow. To say the food he had eaten in France was underwhelming—by implication, that could mean his trip to France itself was underwhelming. It was also a warning not to summon him all the way here only to offer something like duck confit that failed to measure up even to a Napa ribeye.
Even after seeing the staff member’s expression twist, Stan raised one corner of his mouth and continued calmly.
“I ordered crème brûlée for dessert, and that was decent. I liked the smell of the burnt sugar. But the coffee was the problem. They gave me espresso, but the cup was so small I drank three. When I asked for an Americano, the waiter gave me a strange look. I wasn’t sure whether that was considered rude in Paris.”
Pinault, looking dumbfounded, spoke briefly.
“Ordering an Americano in Paris is not rude. It’s just... not how locals drink coffee.”
“I see. Then next time I’ll just order six espressos.”
At Stan’s blatant attempt to unsettle him, the corner of Pinault’s mouth moved faintly. It was difficult to tell whether it was a smile or not.
But Stan merely shrugged and said as if it were no big deal,
“In any case, it was a pleasant evening. Now then, shall we begin?”
Watching Stan, who had come alone and was speaking so fearlessly to his face, Pinault regarded him with an unreadable gaze. Then he slowly opened his mouth.
“American businessmen certainly do not hesitate in thought or speech. And that powerful drive... I can understand how America came to dominate the modern world.”
At those words, the corners of Stan’s eyes twitched. If heard casually, it sounded like praise, but it fixed him not as the owner of a winery, but as a businessman, while also pointing out the short history of his winery.
“I can’t deny that we’re certainly forward-looking. We’re afraid of standing still, you see. And that is what created innovation.”
Since he had subtly jabbed at the old-fashioned grape-growing and winemaking methods of French wine, the corner of Pinault’s mouth twisted despite himself.
At this point, the faces of the working staff standing beside Pinault grew uneasy, and they began fidgeting. It would not have been strange if raised voices broke out between the two men at any moment.
But both men only wore relaxed smiles and did not go any further. Perhaps they considered that they had each exchanged one stroke of the blade. Given his usual temperament, Pinault might have struck back once more here, but instead, he straightened his expression and went straight to the main issue. It meant he no longer wished to continue the war of nerves.
“Mr. Kroenke, I assume you agree that the movements of Redwood and Margaux pose a threat to both of us.”
Stan, no longer engaging in a war of nerves either, answered readily.
“I agree.”
“Then it is rational for Château Latour and Screaming Eagle to respond together. We launch a membership alliance of a similar nature first, through Christie’s.”
Christie’s was one of the world’s two largest auction houses, alongside Sotheby’s. Since this proposal came from Chairman Pinault, who owned Christie’s, Stan immediately raised his hand.
“I know Christie’s belongs to Pinault Group. In that case, it means the Latour side would take the lead in this alliance, and that is difficult for me to accept.”
Pinault’s expression stiffened ever so slightly. Latour’s working staff looked at Stan. It was rare for someone to confront Pinault head-on from the very first exchange when he had personally come to the meeting.
“Château Latour is a Bordeaux First Growth with 150 years of history. How many years has Screaming Eagle even existed?”
When Pinault, his tone now slightly edged, once again brought up history, Stan shrugged.
“History doesn’t create price. Scarcity does. I’m sure Chairman Pinault is well aware that Screaming Eagle’s price per bottle is higher than Latour’s.”
A chill flowed through the conference room. Pinault slowly tapped the table with his finger. As tense air spread and sweat began trickling down the temples of the working staff, Chairman Pinault opened his mouth.
“Then what is it that you want, Mr. Kroenke?”
“An equal partnership. A structure where Latour and Screaming Eagle stand side by side. Not one side leading the other, but two wineries entering the market together with their respective identities. And I agree to use Christie’s, but auction commissions and promotional costs must be split exactly in half.”
At those cold words, Pinault fell silent once more. At last, Stan rose from his seat and said,
“Chairman Pinault, I am not looking down on Latour. I’m saying that if Latour’s power meets Screaming Eagle’s scarcity, it becomes an alliance that even Redwood-Margaux cannot ignore. The opponent we should be fighting is not each other, but Brian Choi, is it not?”
At that single remark, the sharpness that had risen in Pinault’s eyes settled. After a brief silence, he said,
“Please sit.”
When Stan sat down again, Pinault spoke slowly.
“I will accept the terms. But one thing remains.”
“......?”
“Latour must be listed first on the label.”
The order of names on a label could not be dismissed as a mere design issue. It was a symbol showing the world who led this alliance.
“I cannot accept that.”
At Stan’s immediate refusal, Pinault’s eyebrows rose slightly. Stan continued.
“Our customers look at the label first. The moment Latour comes first, Screaming Eagle becomes not Latour’s partner, but Latour’s appendix. That is an insult to my customers.”
At Stan’s attitude, which showed not the slightest sign of backing down, Pinault scratched his middle finger with his thumb.
After letting out a slight sigh, Chairman Pinault said,
“Then how about determining the label order alphabetically? Château Latour comes before Screaming Eagle not because we decided it, but because the alphabet did.”
Stan thought for a moment, then let out a small snort of laughter.
“You’re clever. But I can’t accept that either. Let’s do this. Divide the label into two sides. On one side, Latour is the main name; on the other, Screaming Eagle is the main name. The person looking at it decides which side is the front.”
It was a rather wise proposal, more so than expected, and even Pinault could accept it. There was no problem with it, either practically or in terms of justification.
“That is a good idea. I accept.”
The two men shook hands. The Latour staff standing in the conference room all wore expressions of relief at once. It was the moment the Latour-Screaming Eagle alliance came to fruition.
After Stan left, the working manager cautiously spoke to Chairman Pinault.
“Chairman, we’ve received a report from Christie’s Hong Kong branch. Intelligence says Sotheby’s Hong Kong is preparing a major wine auction. From what we’re hearing, it’s related to Redwood and Margaux, and we judge it to be fairly credible.”
“As expected. When are they planning to hold it?”
“In two months.”
Pinault thought for a moment, then said,
“Then we must move first. More important than the auction date is who announces it to the world first.”
“What specifically should we do?”
“Place it in the Financial Times and Decanter at the same time. Say that Latour and Screaming Eagle are joining hands to launch a new ultra-premium membership alliance. We create the stage before Redwood-Margaux makes their official announcement. The moment they announce theirs, they will look like latecomers following us.”
The working manager took notes and asked,
“When should we schedule Christie’s auction?”
“Hold it three weeks before Sotheby’s.”
Pinault rose from his seat and said,
“The second auction always looks as if it is imitating the first.”
The Financial Times article came out two mornings later.
I was drinking coffee in the Redwood Winery office when I opened my phone. There was a text from David Cheung, a wine collector in Hong Kong.
‘Have you seen the FT? The Latour-Screaming Eagle article.’
I opened the online edition of the Financial Times. The headline immediately caught my eye.
‘Château Latour and Screaming Eagle forge historic alliance - a new era of ultra-premium wine membership begins.’
Skimming the article, I saw that Latour and Screaming Eagle were joining hands to launch an ultra-premium membership alliance. It also said they would hold an auction in Hong Kong through Christie’s. Decanter had run an article with the same content.
“Wow...”
The exclamation slipped out before I knew it. I was genuinely surprised by the driving force a man named Stan Kroenke possessed. Just then, Warren came in carrying a coffee cup and said,
“Have you seen it?”
“Yes, I saw it.”
“To think Pinault and Stan would join hands... and even play the media on top of that. Well, I’ve seen everything now.”
“It seems Christie’s figured out that we were preparing the Sotheby’s auction. So they struck before us.”
Warren sat on the sofa and said,
“Shouldn’t we announce immediately as well? If we stay like this, the moment Sotheby’s auction is held, we’ll look like latecomers.”
After thinking for a moment, I shook my head.
“No. If we rush, it will look like we’re being chased, so I think it’s better not to do that. Somehow, I feel that may be exactly what Pinault wants. If we panic and announce first, the side that already created the stage will end up taking the initiative.”
It was a reasonable argument, but it could also be seen as a leisurely response, so Warren tilted his head.
“Then what are you going to do?”
“How about we let Christie’s go first?”
“Huh? Are you sure that’s right? Isn’t the auction held second at more of a disadvantage?”
I looked at Warren and said,
“Since things have turned out this way, the harder we try to do something, the deeper we’ll fall into the pit. They have both power and capital.”
“Well... that’s true. With Chairman Pinault and Stan Kroenke getting together to make a move, it’s safe to say they won’t be easy to stop.”
I nodded and asked,
“Sir, between the auction held first and the auction held second, which one do you remember longer?”
Warren thought for a moment, then seemed to realize my intent and grinned.
“The one with the higher winning bid, I suppose?”
“That’s right. Surprisingly, it won’t necessarily be only the first auction that remains in people’s minds. What matters more, and what becomes the bigger topic, is what items appeared at which auction and how much they sold for.”
“Then... Christie’s will be held first, and the winning bid for the Latour-Screaming Eagle set will be revealed. Then three weeks later, the Margaux 1996 and Ether set will appear at Sotheby’s, right? If Redwood’s winning bid is higher there...?”
Having finally reached the conclusion, Warren’s eyes shone as he continued.
“Christie’s auction becomes the opening act for Sotheby’s.”
Of course, I knew this was my own optimistic fantasy. I could not deny the possibility that the winning bid at the first auction might end up higher.
Naturally aware of that as well, Warren asked in a low voice,
“But there’s no way Chairman Pinault doesn’t know that. He’ll do whatever it takes to raise the winning bid. Do you have a way?”
I smiled gently.
“Of course. I also expect the Latour-Screaming Eagle set to be formidable. If we go only wine against wine, it’ll be hard to be certain of victory. So...”
“......?”
“I’m thinking of offering the winning bidder of the Heritage & Future Duo a limited purchase right to Castello’s first vintage as well.”
In that instant, Warren’s eyes flew wide open.
“Oho... In that case...? The competition among wine lovers will be tremendous!”