Editor’s Note
Kering Ventures, the investment arm of the luxury group, has taken a minority stake in Chinese jewelry brand Borland as part of a funding round that also included Xiaomi. The investment highlights the continued interest of major global players in China’s consumer and luxury sectors.
Kering Ventures, the investment arm of the Kering Group, has acquired a minority stake in the Chinese jewelry company Borland through a financing round in which other companies, such as the technology firm Xiaomi, have also participated. Borland has raised more than 100 million yuan (approximately $14 million).
In recent years, gold has become the fastest-growing jewelry category in China, with younger buyers purchasing pieces to express their identity and individuality.
The Laopu brand, founded in 2009 and dedicated to the manufacture of 24-karat gold, recorded revenues in excess of 12 billion yuan ($1.69 billion) in the first quarter of 2025. The company, which has been listed on the Hong Kong Stock Exchange since mid-2024, posted a 23-fold increase in its original share value during the first six months of the current fiscal year.
Kering is betting on the Chinese gold market following the rise of the Laopu effect, driven by younger consumers. Borland currently has three stores in China, including two locations in luxury shopping malls in Hangzhou and Shenzhen, and has a price range of up to $15,000 for a bracelet.
Founded in 1988, the company specializes in artisanal Chinese goldsmithing techniques, such as filigree and antique-style craftsmanship.
Borland is managed by the Hangzhou Baolan Gold Research Institute, whose founder owns a majority stake.
The French luxury group’s investment follows the launch of Kering Craft, in a clear bid to find levers for future growth in the Asian market.
The initiative, in collaboration with Shanghai Fashion Week, comes amidst a trade war between the United States and China. Kering claims that this project takes a further step in its “collaboration with the Chinese fashion and creative industries.”
In the midst of a slowdown in the luxury industry and with Luca De Meo as the new CEO, Kering is facing an optimization and transformation plan to reconnect with growth. The French luxury group is preparing a new investment vehicle to identify and finance emerging brands with global potential, called House of Dreams.
Kering closed the third quarter with a turnover of €3.415 billion, down 5% on a like-for-like basis. The decline marked a clear improvement over the previous quarter, when sales fell by 15%.
