From Yahoo Finance: 2025-03-20 00:08:00

Vivian Wang rediscovered Laopu Gold, a Chinese luxury brand, on social media. She bought a gold dragon medallion a decade ago for 110,000 yuan, now worth 220,000 yuan. Laopu’s sales soared to 10 billion yuan in 2024, with a surge in share price post-IPO. The brand is seen as a contender in the luxury market.

Laopu Gold, founded by Xu Gaoming in 2016, competes with Western luxury brands like Tiffany and Cartier. Rising gold prices led to a 24.69% drop in gold jewellery sales in China, prompting Laopu to raise prices by 5-12%. The brand’s exclusive retail strategy and unique designs have attracted Chinese consumers, earning it the nickname “Hermes of Gold.”

While Chinese brands have struggled to compete with global luxury players, Laopu is seen as a potential challenger. Analysts believe that with top-tier design, quality, and service, Laopu could break through the luxury glass ceiling. The brand’s focus on Chinese cultural elements and premium pricing for design and branding has resonated with consumers, leading to its rapid growth and success.

Read more: China’s ‘Hermes of gold’ shines despite lacklustre demand for high-end goods