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Chinese handicrafted gold jeweler Laopu Gold (6181) has leased a new shop at IFC mall in Central, stepping up expansion efforts in the city.

Located in the 1st floor, the shop will span 3,000 square feet and has been fenced with boards with Laopu’s logo as construction work is in progress.

The mall’s landlord Henderson Land Development (0012) responded that it would not comment on individual leases due to confidentiality clauses, reported Sing Tao Daily, the sister publication of The Standard.

Laopu opened its first shop in the city in Tsim Sha Tsui last year with a monthly rent of HK$1.5 million.

Dubbed the “Hermes of gold,” Laopu’s shares have skyrocketed over 1,000 percent since its debut in June 2024 to HK$813.00, compared with its peers dampened by the rising gold prices.

The rent is expected to be calculated on the basis of a basic fixed monthly rent plus a share of the turnover, said Centaline Commercial, adding that Laopu was expected continue expansion in core districts.

STAFF REPORTER

1f:T4d5,Consumers in mainland Chinese cities within the Greater Bay Area show significantly higher confidence in artificial intelligence tools than their Hong Kong counterparts, according to a joint survey by KPMG and GS1 Hong Kong. The survey, conducted in August, polled over 1,500 consumers across Hong Kong and major GBA cities, including Shenzhen and Guangzhou. Nearly six in ten mainland respondents said they believe AI will improve retail and service consumption, compared with just 28 percent in Hong Kong. Privacy and data misuse remain top concerns for more than half of respondents on both sides, while one in two Hongkongers worry about losing human interaction, a sentimen

China's 'Hermes of gold' Laopu leases IFC shop