'China’s Hermès’ Laopu Gold and the search for Chinese luxury | Following the Yuan

Every few years, Chinese consumers hear about yet another brand that claims to be China’s Hermès. What makes a brand luxury, and will China ever have its own luxury house?

Key takeaways:

• Laopu Gold’s popularity is partially driven by the recent rise of gold price of 40% from a year ago, as well as a new, distinctly Chinese style of clienteling. 

• Chinese consumers are increasingly turning inward—seeking meaning, identity, and pride in their own heritage. This shift is creating ample room for brands in these price tiers.

• Laopu…