本土品牌历史性破局 老铺黄金冲进奢侈品牌中国活力榜前三名

Core Insights - The 2025 "Luxury Brand China Vitality List" has been released, with Laopuhuangjin being the first Chinese brand to be included and ranking in the top three, marking a significant achievement for Chinese luxury brands [1][3] Industry Overview - The global luxury goods market has faced a historic downturn over the past two years, with overall growth slowing and experiencing significant declines [3] - The Chinese luxury market, after over two decades of rapid growth, is entering a more challenging phase with intensified brand competition [3] - Chinese consumers are becoming more knowledgeable and rational, which poses challenges for international brands that are not prepared for a "normalized" development phase [3] Company Performance - Laopuhuangjin has achieved over 1 billion yuan in single-store efficiency in mainland China by 2025, ranking first among all jewelry brands, including international ones [3] - The overlap rate of Laopuhuangjin's consumers with top international luxury brands like Louis Vuitton and Hermes is as high as 80% [3] - By 2025, Laopuhuangjin is expected to surpass the revenue of Richemont's jewelry business in the Chinese market [3] Competitive Advantage - Laopuhuangjin's rise reflects the core competitiveness of "hard power" brands, which includes brand recognition, operational scale, and financial strength [4] - The brand emphasizes authenticity and long-term value, showcasing craftsmanship, aesthetics, and cultural significance [4] - The need for international luxury brands to embrace "first principles" and reassess their connection with Chinese consumers is highlighted as essential for long-term success [4]