Editor’s Note
Laopu Gold, a leading Chinese jewelry brand, has marked a significant step in its global strategy with the opening of its first overseas boutique in Singapore’s prestigious Marina Bay Sands. This expansion places the brand alongside international luxury giants, signaling its ambition to compete on the world stage.
Chinese high-end gold brand Laopu Gold officially opened its first overseas store in Singapore on June 21, a move widely regarded by the industry as a crucial step in the brand’s global expansion. The new store is located within the landmark luxury shopping complex Marina Bay Sands in Singapore, adjacent to global luxury brands such as Louis Vuitton, Hermès, and Chanel. Market sources familiar with Laopu Gold revealed to Nandu reporters that the brand’s overseas expansion will follow its domestic channel strategy, adhering to a high-end brand positioning to build an internationally influential Chinese luxury gold brand.
The Laopu Gold store at Marina Bay Sands covers approximately 110 square meters in a prime location within the complex. On its opening day and the following day, the store attracted a large number of local consumers and tourists, with the queue outside surprising staff from neighboring luxury brands. Given that Marina Bay Sands is home to numerous top-tier luxury brands, such queuing scenes are rare. Many users on the social media platform Xiaohongshu commented, “At least an hour’s wait,” “Plenty of stock,” and “Good discounts.”
Simultaneously, sales at the new store remained exceptionally strong during the first two days, mirroring its high popularity in China. Bloggers interacting with sales staff shared that few customers left empty-handed, and purchase decisions were made quickly. This is likely attributed to the high purchasing power of the mall’s clientele, the brand’s overseas recognition, ample product preparation, and opening promotional activities. It is reported that the products sold at the Marina Bay Sands store are largely consistent with those in the domestic market, with pricing also aligned, subject only to exchange rate fluctuations.
Laopu Gold is steadily advancing its overseas market layout, with subsequent international stores already in the planning stages. An informed source stated:
By April this year, Laopu Gold had secured locations in all of China’s top-tier shopping malls, including SKP, MixC, Grand Gateway 66, and IFC, making it the only Chinese brand to achieve a presence in all leading commercial centers.
The choice of Marina Bay Sands in Singapore for its first overseas store was primarily based on Singapore’s status as an international metropolis, its ability to serve the broader Southeast Asian region, and its significant Chinese population, which shares cultural affinities and appreciation for gold products and traditional culture with mainland China. Furthermore, Marina Bay Sands represents the most prestigious high-end retail environment locally. By opening a store there, Laopu Gold reinforces its domestic strategy of high-end mall placements, facilitating deeper engagement with international consumers and highlighting its positioning as an international Chinese luxury gold brand, thereby boosting its influence in both domestic and international markets.
Data indicates that in Southeast Asia, market demand for designer gold jewelry is growing steadily alongside rising consumption levels and personalization trends. The jewelry market is projected to expand at a compound annual growth rate (CAGR) of 3.35% until 2033. Singapore’s jewelry market, in particular, shows strong growth momentum, with an expected average annual growth rate of 4.51% from 2025 to 2029.
Founded in 2009, Laopu Gold was a pioneer in promoting the concept of “Ancient Method Gold” in China. Unlike traditional gold jewelry brands, it offers not only ancient-method gold jewelry but also gold artifacts such as scholarly utensils and decorative pieces, achieving a unique and “non-competitive” market position globally in terms of product development and business model.
The company was officially listed on the main board of the Hong Kong Stock Exchange on June 28, 2024, hailed as the “first stock of ancient-method gold.” In recent years, the brand has maintained robust growth. In 2024, its revenue increased by 167.5% year-on-year to RMB 8.506 billion, gross profit rose by 162.9% to RMB 3.501 billion, and net profit attributable to shareholders surged by 256.2% to RMB 1.480 billion, demonstrating significant profitability. According to data from Frost & Sullivan, in 2024, among all well-known jewelry brands (including international and domestic brands), Laopu Gold ranked first in China in terms of single-mall revenue and sales per square foot, surpassing many international first-tier luxury brands in several leading commercial districts.
Against the backdrop of rising demand for value-preserving products like gold amid a trend of consumption downgrading and structural changes in the luxury industry, the absolute dominance of international luxury brands is being continuously challenged. Over the past few months, Laopu Gold’s outstanding performance in the Chinese market has attracted attention from the international luxury sector. Richemont Group CEO Nicolas Bos specifically mentioned Laopu Gold during an earnings call, stating:
A recent research report from global investment bank Morgan Stanley also pointed out that the exceptional performance of China’s Laopu Gold has颠覆ed the long-held perception that European luxury brands have been largely immune to threats from local competitors worldwide for decades.