China signals: Laopu rivals rise, trail running scales, iQiyi’s AI bet misfires

Three stories, three dimensions of innovation in China — new competition, new infrastructure, and a new technology that moved faster than its audience. A wave of “ancient gold” brands is challenging Laopu Gold’s position in China’s high-end malls, with at least 19 of its locations now battling direct competitors. Trail running is maturing fast, with Hoka, HLA, and Kailas building ecosystems around the sport rather than just selling shoes. And iQiyi’s AI actor database sparked immediate backlash — netizens rejected AI-generated performances outright, and several actors publicly denied having signed up. Ancient gold challengers crowd into high-end malls Market intel: Ancient gold — known in Chinese as gufajin, jewelry crafted using centuries-old imperial goldsmithing techniques — has become one of China’s most coveted luxury categories. Now the segment Laopu Gold largely built is attracting serious competition. Brands including Jemper, Borland, Linchao, and Baowangfu have opened in premier mall locations nationwide — and at least 19 of the 32 malls where Laopu Gold operates in mainland China now host competing brands. Some challengers carry genuine heritage credentials: Linchao predates Laopu Gold by three years, while Baowangfu has trained intangible cultural heritage artisans since 2018. Laopu Gold, for its part, appears unfazed. The company is taking a conservative approach to domestic store openings in 2026 while actively pursuing overseas expansion — a posture it can afford after achieving nearly 1 billion RMB ($139 million) in average sales per store in 2025. Market indicator: Laopu Gold didn’t invent ancient gold craftsmanship, but it turned it into a luxury category — and now it has to defend what it built. The central question is whether consumers will continue to accept its premium pricing — which deliberately decouples from the spot price of gold — once credible, well-crafted alternatives are within reach. For the challengers, the task is proving that heritage and craftsmanship are not Laopu’s alone to claim. First-mover advantage is real, but it has limits. Trail running is becoming China’s next big sports battleground Market intel: Trail running is picking up speed in China, and brands are moving well beyond selling shoes. Hoka, Premier Footwear and Apparel Partner of the UTMB World Series, activated at the Moganshan race with a training camp for amateur runners, trail restoration activities, and a year-round Hoka Fly Station offering gear rentals and on-course support. HLA, the Chinese menswear brand, entered the segment through its “HLA POW Run” sub-brand, securing title sponsorship for two high-altitude races and kitting out participants with full professional gear. Kailas, meanwhile, launched its Fuga Big Slope King Monster trail shoe at its Anji race, engineered for extreme grip on slopes exceeding 40%. Market indicator: Trail running is maturing into something more durable than a fitness trend. The brands moving fastest aren’t chasing buzz — they’re building infrastructure: training camps, trail maintenance programs, permanent gear stations, and footwear engineered for extreme terrain. That shift matters. It signals long-term commitment, and it raises the barrier to entry for anyone looking to participate on the surface. The brands that win here will be those that treat trail running as a culture worth investing in, not a category to ride. iQiyi’s AI actor plans spark a consumer rebellion Market intel: iQiyi, China's leading streaming platform, announced the launch of Nadou Pro — an AI tool that allows creators to generate performances using actors’ likenesses, with more than 100 actors said to have signed up. CEO Gong Yu leaned in, suggesting the technology could take actors from four productions a year to 14, and predicting that live-action filming might one day become an “intangible cultural heritage.” The backlash was swift. Netizens pushed back hard, with one widely shared post reading: “Fans like the living, unique person, not AI-generated industrial products.” Within hours, studios representing Zhang Ruoyun and Yu Hewei issued denials, saying their clients had signed no such agreements. The controversy arrives as Tencent Video chairman Sun Zhonghuai predicted this week that the first AI-generated blockbuster drama could land as early as next quarter. Market indicator: The backlash wasn’t really about technology — it was about what audiences believe entertainment is for. Consumers didn’t just push back on Nadou Pro; they rejected the underlying premise that efficiency and volume are acceptable substitutes for human performance. For any brand weighing investment in AI-generated content, the signal is clear: the technology may be ready, but the audience isn’t. The platforms that navigate this well won’t be the ones that move fastest — they’ll be the ones that are clearest about where AI ends and human creativity begins.

China signals: Laopu rivals rise, trail running scales, iQiyi’s AI bet misfires

How Bottega Veneta weaved China’s forever it bag

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China signals: Laopu rivals rise, trail running scales, iQiyi’s AI bet misfires

How Bottega Veneta weaved China’s forever it bag