China signals: Pop Mart’s luxury gambit, Pandora’s retreat, Laopu’s cultural win

Authenticity has become the defining challenge for luxury brands in China, whether borrowed through strategic appointments or built from cultural roots. Pop Mart courts luxury credibility by appointing LVMH’s Andrew Wu to its board, while Pandora retreats from China after the market rejected its value proposition. In contrast, Laopu Gold’s rapid growth, fueled by culturally resonant design, is projected to outsell Richemont’s jewelry portfolio in China. Meanwhile, actor Li Xian’s unfiltered trekking vlog generated significant attention, demonstrating that genuine storytelling resonates strongly in China’s growing outdoor lifestyle sector. Pop Mart’s board appointment signals quest for institutional legitimacy Market intel: Chinese IP and collectibles company Pop Mart has appointed Andrew Wu, Group President for Greater China at LVMH since 2005, as a non-executive director. Wu, who oversees LVMH’s extensive brand portfolio in China, brings decades of luxury market expertise to Pop Mart’s governance, signaling a strategic move to align with the prestige and operational sophistication of established luxury houses. Market indicator: The appointment represents less an immediate business integration than a strategic bid for institutional credibility. By bringing a veteran of the world’s largest luxury conglomerate into its highest leadership tier, Pop Mart signals ambitions to evolve from pop-culture phenomenon into an enduring global lifestyle brand. For LVMH, Wu’s role offers insight into youth consumer dynamics and IP-driven commerce in China’s collectibles market. Pandora’s China retreat underscores the cost of inauthentic value Market intel: Pandora will merge its Greater China operations into its Asia-Pacific division on January 1, 2026, marking a strategic retreat after years of declining sales. The brand’s market share has fallen to an estimated 1%, with store performance significantly below expectations. The move follows repeated restructurings and a shift toward a distributor model, underscoring the brand’s struggle to establish a compelling value proposition in a market dominated by gold jewelry and established luxury hierarchies. Market indicator: Pandora’s withdrawal illustrates the challenges of positioning silver jewelry in a market where gold carries cultural significance and investment value. The brand’s silver and lab-grown diamond offerings struggled to communicate lasting worth, while its mid-market positioning — between affordable fashion and established luxury — left it without a clear competitive advantage. The retreat demonstrates that in China’s jewelry market, product attributes require cultural resonance and perceived material value to succeed. Laopu Gold’s meteoric rise demonstrates appeal of cultural resonance Market intel: A Rothschild report projects that Chinese jeweler Laopu Gold will surpass Richemont’s China jewelry division revenue (including Cartier and Van Cleef & Arpels) in 2025. The brand’s success stems from designs rooted in Chinese cultural identity, with flagship locations like Beijing SKP generating substantial revenue. Founder Xu Gaoming has stated that stores earning less than 500 million RMB ($69 million) annually may be closed, setting benchmarks comparable to global luxury brands. Market indicator: Laopu Gold’s performance demonstrates that Chinese consumers increasingly value contemporary cultural identity alongside established European heritage. The brand derives its positioning not from centuries-old provenance but from reinterpreting traditional Chinese aesthetics for modern tastes. For international luxury houses, the competitive challenge comes not from pricing but from brands offering comparable prestige through narratives that resonate more directly with local cultural values. Actor Li Xian’s Tibet trek highlights shifting influence dynamics Market intel: Chinese actor and Prada ambassador Li Xian generated significant attention by posting a 37-minute trekking vlog from Tibet, filmed with travel vlogger Linksphotograph. The video, showcasing the challenges and landscapes of the Kulha Kangri trek, was reposted by official tourism accounts and praised for its unpolished approach, contrasting with highly produced celebrity content. The response demonstrated strong consumer interest in authentic outdoor lifestyle content. Market indicator: The response to Li’s vlog reflects growing consumer preference for unscripted content over polished marketing campaigns. The video’s success suggests that brand partnerships in the outdoor and lifestyle sectors may benefit from approaches that emphasize authentic experiences over controlled narratives. Rather than relying solely on traditional ambassador endorsements, brands can consider supporting content that aligns with talent’s genuine interests and allows for more spontaneous storytelling.

Sectors

Insights

Company

China signals: Pop Mart’s luxury gambit, Pandora’s retreat, Laopu’s cultural win