Laopu Gold (6181.HK): A Different Kind of Gold Jewelry Business
Laopu Gold is still unfamiliar to many investors outside China.
Unlike traditional gold jewelers, Laopu sells craftsmanship and brand value, not gold weight. Its fixed-price model reduces exposure to gold price swings and supports premium pricing.
The company deliberately limits store expansion and focuses on top-tier locations. Long queues are treated as part of the brand experience, not an operational issue.
Despite having far fewer stores than mass-market peers, Laopu delivers very high revenue per store, suggesting strong pricing power.
This is a first-coverage view on the business model and long-term logic, rather than a short-term earnings story.
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