Chinese consumers have been increasingly turning to local brands across a wide range of industries. In sectors such as sportswear, beauty and electric vehicles, local names have surged ahead, driven by rising national pride and improving product quality. Yet amid this shift towards homegrown products, luxury jewellery remained a category resistant to change. For decades, European brands such as Cartier and Van Cleef & Arpels have held an unyielding grip on the Chinese market.
That dominance is beginning to erode. Driving this shift is local rival Laopu Gold, a once-traditional jeweller now leading a transformation in China’s high-end jewellery sector. Laopu reinvented itself by embracing Chinese designs, making 24-carat gold pieces adorned with culturally significant symbols such as dragons and phoenixes. These designs, rooted in heritage, have been popular among a new generation of affluent young locals seeking luxury that reflects their identity.
Fixed pricing, exclusive product releases and a loyal fan base have helped give the company a unique position, winning market share as global peers struggle to localise fast enough to compete. Same-store sales at its flagship locations have more than doubled this year, while online sales have risen fourfold, reflecting continued sales momentum.