The operation ran out of villa-sized ‘factories’ that produced near-perfect replicas of pieces from Van Cleef & Arpels, Cartier and Bulgari. The setup stretched well beyond jewellery assembly: investigators found full packaging lines capable of recreating branded boxes, certificates and accessories – a sign that counterfeiters are now mirroring luxury supply chains from top to bottom, rather than relying on piecemeal workshops.

Distribution was just as modern. Instead of street-level stalls or private chat groups, the ring relied heavily on livestreams, tapping into China’s vast live-commerce ecosystem to move high volumes at speed. It’s a shift that makes enforcement harder and raises fresh questions about platform governance as counterfeiters piggyback on the trust and immediacy of real-time sales.

For luxury houses, the risks are familiar. Industrialised counterfeiting chips away at exclusivity and erodes pricing power, while livestream-based sales blur the lines between legitimate and illicit channels. For parent companies like Richemont and LVMH, China remains a critical market, but cases like this highlight the need for tighter authentication, supply-chain traceability and proactive monitoring of fast-moving content platforms.

This Chinese counterfeit jewellery bust also reflects Beijing’s continued emphasis on intellectual-property enforcement, particularly in sectors tied to consumer confidence and international trade. While the authorities did not release full details – such as the number of arrests or the provinces involved – the reported scale of the operation suggests a coordinated, long-running effort.

As China’s luxury rebound splinters between cautious buyers and big spenders, it’s likely that authenticity becomes an even bigger selling point. If a market is flooded with ever-more convincing fakes, reassurance will become part of the product. For brands, that means trust might now be as valuable as design.

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Loopy is a part of a show called Pororo the Little Penguin, the premise of which is a group of animal friends embarking on various adventures in the fictional Porong Porong Forest. At first glance this is strange direction for the brand – one synonymous with high luxury, glamour, and not so much (you’d expect) cuteness or animal adventures. However, this isn’t the first time Chow Tai Fook’s taken this direction, just the latest.   

In recent years, the brand has teamed up with everyone from Chiikawa to Disney and Black Myth Wukong to MCM. The range of collaborations hopes to attract a younger audience to the brand. On the basis that Loopy fans don’t have the money, or even agency, to buy jewellery, we can also assume they’re looking to establish brand loyalty with the aim of cashing it in when the young consumers come of age.  

The Chow Tai Fook Loopy collaboration – and the collabs that preceded it – feature ranges of small trinkets that are more playful than outright luxurious. These products don’t come accompanied by hefty price tags, making Chow Tai Fook more accessible to first-time buyers. Regular readers of these pages will also understand the viral potential of a collaboration like this in a region where cute culture generates major engagement.  

It’s a smart move in more ways than just the above. By partnering with a wide range of IPs, Chow Tai Fook also aligns with the times: Today’s consumers, and the consumers of tomorrow, want items that reflect their personal interests and identities. New generations of Chinese are growing more individualistic. The rise of individualism offers new and enormous streams of revenue. Chow Tai Fook clearly recognises that. They just need to make sure, in the face of stiff competition, they don’t water down their luxury image chasing it.  

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Profit-wise, Laopu Gold’s gross profit grew 223.4% to 4.71 billion RMB (656.34 million USD). However, due to the brand only adjusting its price once in February during the surging gold prices earlier this year, the gross profit margin dropped slightly to 38.1%. Despite the scale of the explosive growth, net profit still surged 285.8% to 2.27 billion RMB (316.32 million USD).

The report credits in-store sales as its main revenue source for Laopu, contributing 86.9% of all income, while online platform sales grew 313.3% YoY, contributing 13.1% of Laopu Gold’s revenue. The average shop income in each shopping centre reached 459 million RMB (63.96 million USD) in H1 2025, making it the highest-earning jewellery brand in a single shopping centre and in sales per unit area. The brand also relies on innovation and new products, as well as new openings in China and abroad.

Surprisingly, Laopu’s share price dropped over 7% after the report. Commentators believe this was caused by restricted stock being unlocked rather than a market reaction to the financial results, which will likely be the strongest performance in the brand’s 16 year history. However, pundits pointed out that the strong performance does not shed light on Laopu’s future path of continued growth. Selected expansion and possible price hikes are some of the most speculated strategies. As always, Laopu’s special focus on “traditional craft” means it requires continued monitoring, especially how that translates in its global expansion.

Need to boost your China strategy? Dao Pro delivers bespoke insights on marketing, innovation, and digital trends, direct from Chinese sources. Find out more from our Dao Strategy Team here.

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On 15 August, Swatch launched its new Essentials collection. For representation, it featured an East Asian male model sporting a colourful chronograph watch. However, the model posed with his fingers pulling at the corners of his eyes, creating a slanted eye effect. This pose reflects a racial stereotype and is widely considered offensive towards people of East Asian descent. Following uproar in China, Swatch deleted the image and videos the next day and issued an apology.

• #Swatch中国官网已找不到眯眯眼照片 Slanted eye photos can no longer be found on Swatch’s China official site: 23.92 million views on Weibo, ranking number 6 on the Hot Search list

Chinese netizens are rightfully outraged. Many pundits, however, are digging deeper into the root of the issue. The slanted eyes gesture was likely not trying to offend Chinese people for any nefarious reason, but rather was an uninformed attempt to emphasise Asian identity in the age of 15-second videos and laziness in execution, since no one thought to raise the issue before the campaign was launched. This, of course, won’t work in highly localised markets like China and East Asia. Maybe it is advisable for brands to recruit a Chinese cultural advisor, like Loewe has done.

Need to boost your China strategy? Dao Pro delivers bespoke insights on marketing, innovation, and digital trends, direct from Chinese sources. Find out more from our Dao Strategy Team here.

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The exhibition is also the first archival exhibition dedicated to the fashion house’s 40 years of runway jewellery. The brand uses jewellery as the thread for its narrative, which tells the story of aesthetic and cultural changes in its designs, reflecting the past 40 years.

Using various themes across 8 rooms, the exhibition is showcased through a combination of video, audio and interactive installations to build an immersive and visceral experience for viewers. From Westwood’s early days in London’s Portobello Road Market to runway icons from the 80s, the displays include many of the house’s signature designs, such as the armour ring and its iconic Saturn (“The Orb”) necklace.

A pop-up store has been set up during the exhibition, which runs until 29 August. Visitors can purchase limited edition accessories, jewellery, as well as exclusive scarves and t-shirts from the shop. Alongside a special café, there is also a giant Saturn installation for visitors’ “check-in” (打卡) needs at the Vivienne Westwood Shanghai exhibition.

Vivienne Westwood CEO Carlo D’Amario said at the opening that the exhibition is the brand’s way to convey, through the display, that it is more than a fashion house but also a jewellery powerhouse. Jewellery and watch brands are tapping into the “experience economy” in China by hosting exhibitions. It looks like Vivienne Westwood is embracing the trend as well.

Need to boost your China strategy? Dao Pro delivers bespoke insights on marketing, innovation, and digital trends, direct from Chinese sources. Find out more from our Dao Strategy Team here.

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• With brand exhibitions becoming increasingly popular among luxury brands in China, hard luxury is starting to catch up.
• Brands like Van Cleef & Arpels, Chaumet, Vacheron Constantin and Audemars Piguet are some of the representative examples this year.
• From exhibition locations to archival pieces and tributes to Chinese cultural influence, these brands are showcasing some of the biggest trends to come.

Watches and jewellery have been bearing the brunt of the headwind against luxury. China is one of the markets that brands are either trying to push or avoid a slowdown in. With the rise of museums, exhibitions and experiential retail, branded exhibitions have been more popular than ever, for luxury, fashion or otherwise. So, what’s new for brand exhibitions in China today, especially for hard luxury? Four examples this year illustrate the new trends perfectly.

Van Cleef & Arpels: Global

Van Cleef & Arpels took the approach of centralised messaging by bringing a global travelling exhibition to Shanghai. The Poetry of Time opened at the West Bund Dome Art Centre (西岸穹顶艺术中心) on 1 July and will run until 11 August. The exhibition was previously shown in London last May and June before being transferred.

The free exhibition focuses on the Maison’s high-end watchmaking and is an immersive experience. From “cabinets of curiosity” that show off historical archives and museum pieces to watchmaking workbenches that indicate the mastery of craftsmanship in the timepieces. The exhibition is divided into themed areas showing Van Cleef & Arpels’s iconic motifs in watchmaking, from ballet dancers, fairies, to astrological themes, nature and love stories. The centrepiece of the display, the automated mechanical Planétarium, also enjoyed its debut in China.

Like the previous The Art of Movement exhibition that travelled to Wuhan and Guangzhou in China before going to Sydney, Australia, the new exhibition is designed to translate across locations and cultures. This also offers an aesthetic with the “country of origin” in mind, creating the luxury brand narrative that is centred on the romanticism of France.

Chaumet: hyper–localised

Chaumet, on the other hand, was at the other end of the spectrum with its exhibition by a partner in a museum exhibition in Hangzhou. Chaumet worked with the Zhejiang Provincial Museum as an official partner for the “Blooming: Curated Art Collections from the 16th to 20th Century” exhibition.

Open until 8 October this year, the exhibition features around 320 displays from both China and abroad, dating back to the 5th century. Its emphasis is on China’s cross-border trade and communications with the world, especially the West. Chaumet, also a Parisian Maison, brought 40 specimens from its treasured collection to the exhibition in Hangzhou.

The display also spans over a century, from the early 19th century to the early 20th century, drawing on nature motifs and rococo designs that are iconic to the Maison. But most importantly for this exhibition, 10 pieces of jewellery with oriental, especially Chinese, influences are also on display.

Chaumet not only partnered with a museum for its exhibition in China, but also brought China-inspired items to showcase the long history of influence from Chinese art and culture on Western designs, especially in the 19th Century, hooking Chinese audiences. In addition, it showcased its nature and classically inspired pieces that are decidedly European, creating a great entry point to the brand for exhibition goers.

Vacheron Constantin and Audemars Piguet

We reported on these exhibitions previously, and both share some similarities to the tactics used by Van Cleef & Arpels and Chaumet. However, when looking at these branded exhibitions together, we can distil some of the latest trends.

Both exhibitions were hosted to commemorate brand anniversaries, and like the two brands mentioned above, they place historical archives at the forefront. The Audemars Piguet exhibition was hosted at the Shanghai Exhibition Centre, while the Vacheron Constantin exhibition was a pop-up at Zhangyuan in Shanghai. When discussed alongside the Chaumet and Van Cleef exhibitions, it signifies that the location of branded exhibitions has become more varied. Notably, the Vacheron Constantin exhibition also paid homage to the many inspirations it drew, including the Chinese one, and put a Qing-era robe on display.

In 2025, hard luxury, namely jewellers and watchmakers, are staging exciting exhibitions across China. It seems that both the scale and location are becoming more adaptable, suiting the brands’ needs. Some are focusing on Chinese connections, while others are mostly about the brand’s history. Archival pieces, however, are prevalent across all.

This way, not only can the brand showcase its storytelling through either immersive or educational experiences, but it can also pique the interests of Chinese visitors, as traditional culture and aesthetics are all the rage among young Chinese consumers.

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The statement shows that the group is expected to have generated around 12 billion (1.67 billion USD) to 12.5 billion RMB (1.74 billion USD) in revenue in H1 2025, up 241% to 255% year-on-year (YoY). Meanwhile, net profit for the first six months of this year is projected to be around 2.23 billion RMB (310.68 million USD) to 2.28 billion RMB (317.64 million USD), an increase of 279% to 288% compared to last year.

Laopu’s statement notes that the main reasons for the sharp growth in both revenue and profit are:

• Brand: The Laopu brand continues to grow in influence, driving sales and profit growth.
• Product: The continuous update and optimisation of its products also helped boost online and offline sales.
• Channels: the benefits of the 5 new stores opened in H1 and the optimisation of existing outlets will show in the second half of this year. Currently, Laopu Gold has 41 stores in 16 cities in and out of China. Laopu’s first overseas store opened in Singapore on 21 June, marking its global expansion.

The share price dropped 4.12% on 28 July after the statement but bounced back slightly on 29 July to 749 HKD (95.41 USD) per share. The rise of Laopu, POP MART and Mixue in both revenue and the stock market this year highlights the new “emotional” consumption trend.

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Swiss luxury watchmaker Vacheron Constantin recently launched a pop-up exhibition at Zhangyuan (张园) in Shanghai. The immersive space called The Quest commemorates the brand’s 270th anniversary and will be open until 20 July.

The pop-up space is divided into 7 themed areas, telling the story of the maison’s history since its founding in 1755. The first area is dedicated to the beginnings of the horologist house, while the second explains the craftsmanship and artistry that go into Vacheron Constantin’s timepieces. This is followed by a space that pays tribute to the inspiration the brand draws from around the world, including a Qing-era emperor’s robe on display. A fourth area is in collaboration with the Louvre, where the brand has brought in artefacts from around the globe to serve as sources of inspiration. The fifth area is dedicated to the mechanical excellence of the house’s watches and clocks. The sixth room illustrates the brand’s past 270 years, while the concluding space looks towards the future.

From displaying rare and antique timepieces to interactive art installations, the exhibition aims to educate visitors about what makes up Vacheron Constantin as a brand. The house’s Style and Heritage Director, Christian Selmoni, was also present at the opening, where the brand hosted a talk.

The Vacheron Constantin Shanghai exhibition is part of the city’s effort to attract new openings, an initiative called “First in Shanghai”, and marks the first stop of the exhibition in Mainland China. Zhangyuan, along with the nearby Taikoo Hui area, is quickly becoming Shanghai’s luxury centre, as demonstrated by the new Louis Vuitton ship-shaped flagship. With luxury, especially luxury watchmaking, facing headwinds in 2025, brands are doubling down in China, particularly in Shanghai, with more innovative marketing tactics. The recent museum and exhibition boom in China has also made this one of the go-to means for luxury brands.

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Called “What Time is It There?”, the exhibition was created with the theme of “navigating through time and space” with 9 different scenes from London, New York, Istanbul and Saint-Imier, Switzerland, the home of Longines watches. Visitors gaze from a lounge modelled after airport departure lounges, where you can see the 4 cities’ time zones. Vintage specimens such as the 1908 Longines dual time-zone pocket watch, the 1937 dual time zone dashboard dial and a 1990 watch Longines made for Swissair are on display.

Zulu Time is the name used by aviators and the US Military for UTC or Greenwich Mean Time (GMT). Longines’s Zulu Time was thus named for being the brand’s first-ever dual time zone wristwatch designed for aviation and travel. In keeping with the longitudinal theme, the site of the exhibition is held at the Central Axis of Beijing, symbolising the Zulu +8.00 time zone, inscribed as a UNESCO World Intangible Cultural Heritage in 2024.

Longines also brought in its brand ambassador Taiwanese actor Eddie Peng and Chinese actor Li Yunrui, to preview the exhibition. On Weibo, China’s Twitter equivalent, the topic “Exhibition on the Central Axis of Beijing” (#北京中轴线上的展览#) gained 9.58 million views, ranking number 16 on the Hot Search list. The exhibition not only showcased Longines’ history and tradition in innovation, but also embraced Chinese cultural elements by hosting it in a 700-year-old Taoist temple. The exhibition seems to succeed in articulating its concept of aligning the prime meridian and the Central Axis of Beijing.

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Outside Mainland China, Laopu Gold already has branches in Hong Kong and Macau. However, its first store outside China has long been anticipated and speculated. In late February, netizens spotted the Laopu logo on hoardings at a retail space in the Marina Bay Sands Hotel, hinting that the brand’s first store under its “going overseas” (出海) strategy will be located in the high-end shopping area of Singapore’s landmark hotel. The hotel is already home to 19 luxury flagship stores and hosts over 170 global fashion brands. This would make Laopu neighbours to the likes of Louis Vuitton, Chanel and the actual Hermès.

Nearly four months later, the location has finally been confirmed and is set to open on 21 June. Laopu has also expressed its intention to open a store in Tokyo, Japan and have at least 4 shops in Southeast Asia by 2026. The share placement was intended to fund Laopu Gold’s global expansion.

Laopu has been closely watched by not only competitors but also investment banks such as Goldman Sachs and Morgan Stanley. Goldman Sachs raised the Laopu Gold price target due to its strong sales, high profitability and, of course, the new Singapore opening. Morgan Stanley remains neutral as it is still monitoring the results. Like many other Chinese companies, “going overseas” seems to be the best path forward for Laopu amid stiff competition at home. The performance of Laopu in Singapore could indicate how well the brand resonates beyond “traditional Chinese craft” and “guochao”.

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