Kering Ventures, the investment arm of the global luxury group, has directed over 100 million yuan ($14 million) into Borland, a Hangzhou-based jeweler. The move confirms a major capital shift towards China’s booming heritage gold market, a segment dramatically outperforming Western luxury brands and redefining high-value aesthetics for a new generation.

  • Lead Investor: Kering Ventures
  • Target Company: Borland (Hangzhou)
  • Investment Value: Over 100 million yuan ($14 million)
  • Segment Focus: 24-karat “Heritage Gold”
  • Market Catalyst: Laopu Gold’s 250% H1 2025 revenue surge

The 2025 Trend: Cultural IP as the New Value Driver

Kering’s investment transcends a simple materials play; it’s a strategic endorsement of cultural intellectual property. Brands like Borland and its breakout predecessor, Laopu, specialize in “heritage gold,” which is defined by traditional Chinese goldsmith techniques such as “filigree”—the intricate, lace-like metalwork that imparts a sculptural quality to each piece. This focus on ancestral craftsmanship resonates with a market that is increasingly prioritizing tangible cultural narratives over established European design codes. The substantial heft and vitreous luster of 24-karat gold, combined with these ancient techniques, create pieces that are seen as both personal assets and cultural artifacts.

Impact: A Market Warning for US Retailers and Investors

For US-based retailers and market analysts, this is a critical signal. Kering’s move validates the long-term growth potential of a niche that was, until recently, considered regional. Laopu’s explosive growth and clientele, which now directly overlaps with and threatens stalwarts like Cartier, prove that a powerful domestic aesthetic is capturing significant market share. The operational model—a minimal physical footprint leveraged by massive digital influence on platforms like Douyin—provides a new playbook for luxury expansion. This investment is a clear indicator that the next high-growth sector may not emerge from Paris or Geneva, but from craft-focused brands in Hangzhou and Lanzhou, demanding a fundamental reassessment of global luxury dynamics.

Image Referance: https://uk.fashionnetwork.com/news/Kering-bets-on-china-s-gold-jewelry-boom-as-laopu-s-sales-soar,1789344.html