A Rothschild report reveals Chinese jeweler Laopu Gold is expected to exceed Richemont’s jewelry division revenue in China in 2025. Richemont’s jewelry portfolio includes Cartier, Van Cleef & Arpels, and Buccellati. In high-end Beijing and Shanghai malls, long queues form outside Laopu Gold while traditional luxury boutiques see fewer visitors. Rothschild attributes its success to the brand’s appeal among consumers seeking culturally resonant Chinese designs. HSBC data shows a single Laopu Gold store in Beijing SKP generated 3 billion RMB ($415.5 million) annually, accounting for roughly one-seventh of the mall’s total revenue.