Retail value in the Chinese Mainland declined by 18.6% year-on-year, accounting for 87.8% of the group’s retail value.

Gold jewelry and products are increasingly popular among young consumers due to their value retention and defensive characteristics.

In 2023, the average revenue per store for Laopu Gold reached 93.9 million yuan, doubling from the previous year. Among them, the total revenue of the two stores located in Beijing SKP was 336 million yuan, with a monthly sales per square meter of 440,000 yuan.

In the fourth quarter of fiscal year 2024, Chow Tai Fook’s overall retail value increased by 12.4% year-on-year, with growth rates of 29.4%, 5.8%, and 46.1% in the preceding three quarters, respectively.

For major brands, the gold rush presents four significant “new” opportunities that cannot be ignored in brand building: new target audiences, new wearing preferences, new craftsmanship styles, new brand positioning, and new opportunities to capture consumers’ mindshare.

Through entering the diamond cultivation industry, China Gold aims to achieve a “two-pronged” approach with “gold + jewelry,” reducing the company’s reliance on gold product sales and hedging against operational risks.