Laopu Gold, a homegrown jewelry brand that defied the consumer slowdown, is hailed as China’s Hermès. But some are raising doubts over whether it can sustain its success.
Shoppers line up for their turns to shop in an outlet of Laopu Gold in Nanjing's Deji Plaza, Jiangsu, February 21, 2025. Credit: FeatureChina via AP Images
Jewelry store chain Laopu Gold has become one of the leading success stories amid the recent rise of homegrown Chinese consumer-focused companies. But some are now questioning whether behind the glitter, Laopu’s business lives up to the story it tells.
Various Laopu Gold products.
On the surface, Laopu is still gleaming. Launched in 2009, the company has benefited in recent years from a shift in Chinese tastes towards homegrown products, even in a sector like luxury long dominated by for
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