Editor’s Note
This article highlights the surge in consumer activity, particularly for gold, ahead of the Lunar New Year. It reflects broader trends in holiday spending and retail promotions during this peak season.
As the Year of the Horse Lunar New Year approaches, major shopping malls across China have launched large-scale promotional activities. In this vibrant new landscape of Spring Festival consumption, the high-end mall SKP has consistently been a prominent commercial landmark and a hub of activity. This year, SKP’s New Year promotions officially commenced on January 24 and will run until February 14.
On the first day of SKP’s promotional activities, the Lao Fengxiang gold stores in Beijing, Xi’an, Chengdu, and Wuhan SKP malls saw long queues as usual, with this year’s crowds even surpassing last year’s. On the morning of January 24, a reporter learned at the Beijing SKP scene that dozens of people had started queuing overnight on the evening of January 23. By 10 a.m. on January 24, when Beijing SKP opened for business, the mall had already stopped issuing queue numbers for Lao Fengxiang gold, having distributed numbers to approximately four to five hundred people in total, equivalent to the store’s full-day reception capacity.
Lao Fengxiang gold’s products, such as the Axis Leaf, Moth Orchid, Peony Window, and Dragon and Phoenix Pendant, are deeply favored by customers for their classic designs, auspicious meanings, and exquisite ancient gold craftsmanship. Many people also specifically visit the stores to purchase gold items and investment products for the Year of the Horse, wishing for success in the new year.
As a leading high-end Chinese gold jewelry brand, Lao Fengxiang Gold has recently become a top choice in the consumer market, attracting a group of consumers who previously favored international high-end jewelry brands. Data from the international financial institution UBS shows that Lao Fengxiang Gold is expected to surpass the Richemont Group’s jewelry business revenue in the Chinese market in 2025. Richemont, one of the world’s three major luxury goods groups, owns brands including Cartier, Van Cleef & Arpels, and Buccellati. Nicolas Bos, CEO of the Richemont Group, mentioned Lao Fengxiang Gold in an earnings call, stating that it “has driven the popularity and vitality of the jewelry market.”
In September 2025, Lao Fengxiang Gold officially opened its independent store on the first floor of Beijing SKP, breaking the pattern where international major brands typically held the prime first-floor independent storefront locations with the best foot traffic.
(Editor: Zhang Min)