Laopu Gold raises prices by about 12 percent

Beijing-based luxury jeweller Laopu Gold (6181) has raised product prices for the second time this year, with most increases in the range of 10 percent to 12 percent, a store employee told mainland media outlet The Paper.

Its Tmall flagship store showed an 18.2-gram gourd-shaped pendant priced at 30,530 yuan (HK$33,260.82), up 12.5 percent from 27,130 yuan. 

Laopu, which usually raises prices two to three times annually, last lifted prices in February.

Morgan Stanley previously said that Laopu’s pricing strategy in the second half would be closely watched, warning that hikes below 10 percent could leave margins under pressure, while hikes above that level may hurt sales unless new bestselling products are launched.

STAFF REPORTER