Kering Bets on China’s Gold Jewelry Boom as Laopu’s Sales Soar
A gold medallion on display at a Laopu Gold Co. store in Hong Kong, China.
Photographer: Lam Yik/BloombergA new crop of Chinese gold jewelry brands are attracting investor interest in the wake of Laopu Gold Co.’s breakout success.
Hangzhou-based Borland, a gold jeweler specializing in traditional Chinese goldsmith technique known as “filigree”, said this week it has raised more than 100 million yuan ($14 million) from investors including Kering Ventures, the startup investment arm of Kering SA, and Shunwei Capital, a top Chinese venture capital firm co-founded by billionaire Xiaomi Corp. chairman Lei Jun.