古法金跻身顶奢圈 Heritage Gold Rewrites Luxury
2026年春天，最让国际奢侈品巨头睡不着觉的，不是同行，而是一家来自中国的金店。弗若斯特沙利文的最新排名显示：按中国内地收入计，老铺黄金已跃居奢侈品集团第二位，卡在LVMH与爱马仕之间——前五名里唯一的中国品牌。一个2009年才开出首店的古法金品牌，正在改写奢侈品的版图。
数据的陡峭程度超出所有人预期。中国古法黄金珠宝市场规模从2018年的130亿元攀升至2023年的1573亿元，复合年增速高达64.6%；2025年老铺黄金营收273亿元，同比暴增221%，天猫双十一开售10分钟成交破3亿元。与此同时，君佩、琳朝、宝兰与老铺并称的“古法黄金四姐妹”集体调价，部分产品克价突破2000元——是当日金价的两倍还多。消费者不但没有却步，反而排队抢购、限量配货，甚至出现“先抢名额、再等13个月工期”的现象级场景。
这波热潮的底层逻辑，是黄金消费的“分层”。2025年金价全年上涨65%、53次刷新历史纪录，普通金饰按克计价的模式受到重创——中国黄金协会数据显示，当年黄金首饰消费量下滑超三成，金条金币却猛增35%，历史上首次反超。夹缝之中，古法金却靠“卖工艺、卖文化、卖稀缺”杀出一条向上的路：搂胎、锤揲、花丝、錾刻这些接近失传的传统金银细金工艺，把黄金从“大宗商品”变成了“作品”，定价逻辑从克重转向价值。
更值得玩味的是买家的变化。中宝协数据显示，90后、00后已占珠宝消费的47%，而“保值投资”在年轻人的购买决策要素中仅排第五。他们为哑光质感与东方纹样买单，把一只古法手镯归入“穿搭账户”而非“资产账户”。胡润2026年调查里，老铺黄金在中国高净值人群最青睐珠宝品牌中升至第三，仅次于宝格丽与梵克雅宝——国潮审美第一次真正站上了顶奢的牌桌。
但硬币的另一面是：当赛道涌入者越来越多，同质化的“亚光+葫芦+如意”正在批量出现。业内共识是，能否守住高端，取决于文化内核、工艺品质与体验的完整闭环——从门店的东方待客之道，到交付瞬间的仪式感，缺一环都会掉队。老铺黄金的门店把陈列做成了“古典策展”，正说明呈现方式本身就是溢价的一部分：一套与器物气质相称的珠宝陈列道具、一只讲究的定制首饰盒，是把“作品感”延续到消费者手中的最后一公里。这也是为什么越来越多新中式品牌开始在首饰盒设计与珠宝包装设计上对标顶奢——盛艺祥观察到，2026年以来国风质感包装的定制需求明显升温，品牌方要的不再是一个盒子，而是一段可以带回家的东方叙事。
古法金的故事才刚开始：老铺黄金海外首店已落地新加坡，东南亚扩张提上日程。当千年工艺遇上当代品牌运营，中国珠宝第一次有机会向世界输出自己的奢侈品定义——不是更大的克拉，而是更深的文化。
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盛艺祥(Shengyixiang)——高端珠宝包装设计与定制专家，为品牌护航。
In spring 2026, the name keeping global luxury executives awake at night is not a rival maison — it is a Chinese goldsmith. According to Frost & Sullivan, Laopu Gold now ranks second among luxury groups by mainland China revenue, wedged between LVMH and Hermès, the only Chinese brand in the top five. A heritage-gold house that opened its first store in 2009 is redrawing the map of luxury.
The numbers are steep by any standard. China's heritage-gold (gu-fa) jewelry market surged from 13 billion RMB in 2018 to 157 billion RMB in 2023 — a 64.6% CAGR. Laopu's 2025 revenue jumped 221% to 27.3 billion RMB, and its Singles' Day launch cleared 300 million RMB in ten minutes. The 'four sisters of heritage gold' — Laopu, Junpei, Linchao and Baolan — raised prices in lockstep, pushing some pieces above 2,000 RMB per gram, more than double the spot price. Instead of retreating, buyers queued for allocation and accepted 13-month production waits.
Beneath the frenzy lies a structural shift: gold consumption in China is stratifying. With bullion up 65% in 2025 across 53 record highs, gram-priced jewelry sales fell over 30% while bars and coins soared 35% — the first such reversal on record. Heritage gold escaped the squeeze by selling craft, culture and scarcity rather than weight. Near-lost techniques — hammering, filigree, chasing, repoussé — turn gold from commodity into artwork, and pricing follows value, not grams.
The buyer profile tells the deeper story. Post-90s and post-00s consumers now account for 47% of China's jewelry purchases, and 'investment value' ranks only fifth among their decision factors. They pay for matte textures and Eastern motifs, filing a heritage bangle under 'wardrobe', not 'assets'. In Hurun's 2026 survey, Laopu climbed to third among jewelry brands favored by China's wealthy — behind only Bulgari and Van Cleef & Arpels. For the first time, guochao aesthetics has a real seat at the top table of luxury.
Yet the flip side is crowding: as entrants multiply, lookalike matte gourds and ruyi charms are flooding the market. The consensus is that staying premium requires a complete loop of cultural depth, craftsmanship and experience — from Eastern-style hospitality in stores to the ritual of the final handover. Laopu treats retail display as classical curation, proof that presentation itself is part of the premium: refined jewelry display props and a well-crafted custom jewelry box carry the 'artwork feeling' through the last mile into the client's hands. That is why new-Chinese-style brands increasingly benchmark their jewelry box design and packaging design against top luxury houses. At Shengyixiang, we have seen demand for Oriental-aesthetic custom packaging rise sharply through 2026 — brands no longer want a box; they want a piece of Eastern storytelling to take home.
The heritage-gold story is only beginning: Laopu's first overseas store has landed in Singapore, with Southeast Asia next. When millennia-old craft meets modern brand-building, Chinese jewelry finally gets to export its own definition of luxury — not bigger carats, but deeper culture.
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