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
