Laopu Gold is a brand that pushes consumer experience innovation to the extreme.
The investment in Laopu Gold reflects BA Capital’s forward-looking insight into consumer needs, which anticipated the brand’s breakout by two to three years. BA Capital and the Laopu Gold team first connected in 2019. After four years of continuous engagement, Laopu Gold completed its first—and only pre-IPO—institutional financing round in November 2023, led by BA Capital.
On June 28, 2024, Laopu Gold was listed on the main board of the Hong Kong Stock Exchange with the stock code "6181". In the view of Michael Zhang, Managing Partner of BA Capital, Laopu Gold's listing in Hong Kong holds particular significance:
"If we look back from ten years in the future, the listing of Laopu Gold will likely be seen as a landmark event in the history of Chinese brand development. Laopu Gold is an innovative brand in a growth phase, and its high sales efficiency and strong profitability demonstrate its solid market competitiveness. Laopu Gold's significant advantages in product innovation, its brand influence among consumers, and its efficient enterprise operation management system are the keys to its standout performance in the gold and jewelry market.
As the only high-end brand in the industry dedicated exclusively to traditional gold craftsmanship, Laopu Gold taps into consumers' growing enthusiasm for experiential and self-rewarding products, coupled with their appreciation for traditional Chinese culture. It not only precisely meets the demand for consumption upgrades in China's gold market but also demonstrates strong product competitiveness in the international high-end jewelry market. As Chinese consumers increasingly pursue quality of life and exhibit greater cultural confidence, Laopu Gold will embrace even broader market prospects, which is also a very positive signal for the development of Chinese brands."
By the first half of 2025, Laopu Gold’s revenue exceeded RMB 10 billion, with loyal members reaching approximately 480,000. Furthermore, Laopu Gold’s consumer base overlapped by as much as 77.3% with that of leading international luxury brands such as Louis Vuitton, Hermès, Cartier, and Bulgari.
The rise of Laopu Gold reflects two major shifts among Chinese consumers: increasing consumption rationality and a cultural shift toward domestic luxury.
During the pandemic, global luxury brands lost many middle-class customers, but the pursuit of quality and value remained. Consumers sought high-end products that could hold their value, such as gold jewelry that is both beautiful and durable. At the same time, driven by national confidence and cultural awareness, pride in traditional Chinese culture has been steadily growing.
Amid increasingly cautious consumer sentiment, Laopu Gold introduced distinctive gold jewelry and decorative pieces that combine Chinese aesthetics with modern design and exceptional craftsmanship.
In the high-end consumer brand sector represented by Laopu Gold, design capability is the gene that establishes brand stature, and top-tier design capability is extremely scarce. It is built upon strong aesthetic sensibility and rich cultural resources. More importantly, aesthetics is a reflection of thinking and cognition, progressing from holistic thinking to detailed thinking, ultimately constructing competitiveness.
Laopu Gold’s competitive barrier lies in the systematic capabilities built upon this foundation, a trait common to all high-end brands. It establishes a structured competitive advantage spanning products to services, design to craftsmanship, and narrative to meaning. Over time, such brands evolve into enduring icons, making it difficult for others to replicate any single aspect of their success.
In today's context, where consumers are moving towards cultural confidence and anticipating a spiritual return, Laopu, with its leading aesthetic and design capabilities, ancient gold craftsmanship, rich product cultural connotations, and immersive consumption experiences, has materialized traditional Eastern aesthetics into tangible products and experiences that can be touched and felt. For the first time, it has broken the market structure long dominated by foreign brands in the high-end brand segment. This new interpretation of Eastern aesthetics has accelerated its market transformation and development. This is the power of the brand, the power of creation.
