China's 'Hermes of gold' shines despite lacklustre demand for high-end goods [Yahoo! Finance Canada]
LVMH-MOET H/L/V UNSP/ADR (LVMUY)
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Source: Yahoo! Finance Canada
BEIJING (Reuters) - Vivian Wang bought a gold medallion decorated with a carved dragon from Laopu Gold nearly a decade ago, but forgot about the brand until last year when it appeared all over her social media feeds. Swiping through post after post about Laopu Gold, the sales and marketing professional from Shanghai came across her dragon medallion, which was now selling for double what she paid at 220,000 yuan ($30,440.14). Wang decided to brave the lines outside Laopu's Shanghai store in tourist hub Yu Garden to make another purchase, this time an intricate jewellery box constructed from thinly woven gold strands with a dragon and phoenix on the lid. Wang said she would like to pass it on to her 8-year-old daughter one day. "I'm a jewellery lover, Tiffany, Cartier or Bulgari, these are all brands I have bought," Wang said, citing rival retail chains owned by LVMH and Richemont . "I have diamonds and gemstone jewellery but ... long-term it's gold that offers the best way to pr
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