A Chinese high-end jewelry brand has quietly achieved what many thought impossible: outperforming a European luxury giant on its home turf. Laopu Gold’s sales in China surpassed the entire jewelry business of Switzerland’s Richemont Group in 2025, according to an industry report that has sent shockwaves through Western luxury circles.
Professor Stéphane JG Girod of IMD, ranked among the world’s top three business schools for executive education, began studying the brand after encountering the startling sales figures. His research focuses on how Laopu Gold is rewriting elished luxury rules through an unconventional approach.
What makes this brand different? Girod points to several factors: the exclusive use of 24-karat solid gold, a fresh interpretation of Chinese ancestral aesthetics for contemporary consumers, and retail experiences that deliberately break from standardized Western store designs. The brand has also secured premium locations typically dominated by international luxury houses.
The success raises an intriguing question: can traditional craftsmanship combined with modern innovation truly challenge decades of Western luxury dominance? For years, international brands controlled China’s high-end market through reputation and heritage. Laopu Gold’s rapid ascent suggests the luxury landscape is shifting, with Chinese consumers increasingly valuing homegrown brands that honor cultural heritage while embracing contemporary design.
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