CompaniesShares in 'Hermes of gold' have fallen about 60%, exceeding declines of peers and metal itselfLaopu Gold jewelry at a shop in Hong Kong: The company made its name using heritage materials and motifs. (Photo by Cissy Zhou)CISSY ZHOUJuly 3, 2026 12:23 JSTHONG KONG -- The global gold price slump and aggressive moves by emerging rivals are pressuring Chinese luxury upstart Laopu Gold, testing whether its brand cachet alone can sustain its premium appeal.