记者实探｜老铺黄金涨价前门庭冷落，谁在抛弃“塔尖”？

Core Viewpoint - The article discusses the recent price increase by Lao Pu Gold, highlighting a shift in consumer behavior and brand perception as the company raises prices and expands its store presence, potentially impacting its luxury brand image [1][12]. Price Increase and Consumer Reaction - Lao Pu Gold announced a price adjustment set for August 25, with expected increases of approximately 10% to 15% [1][6]. - Consumer interest in the brand has decreased, with fewer people queuing compared to previous price hikes, indicating a shift in demand dynamics [3][5]. - Some consumers express dissatisfaction with the perceived decline in product quality despite rising prices, comparing Lao Pu Gold to international luxury brands [5][7]. Brand Expansion and Market Position - Lao Pu Gold plans to accelerate store openings, targeting over 45 new locations in 2025, primarily in first-tier cities and global core business districts [8][10]. - The brand's strategy includes increasing the proportion of diamond and other high-margin products while integrating cultural elements into their designs [9][10]. - Analysts suggest that the rapid expansion may dilute the brand's exclusivity, potentially alienating core customers [8][10]. Financial Performance and Stock Market Reaction - Lao Pu Gold reported strong sales performance for the first half of the year, with expected sales between 138 billion to 143 billion yuan, reflecting a year-on-year increase of 240% to 252% [11]. - Despite robust financial results, the company's stock price fell nearly 30% in July, attributed to various market factors including lower-than-expected earnings and shareholder sell-offs [12][14]. - The company faces challenges in establishing a brand identity that transcends the intrinsic value of gold, as competition intensifies from emerging brands [14].