SINGAPORE / BEIJING — A Chinese company with a new twist on gold jewelry is taking aim at global luxury giants with its first overseas store. Laopu Gold opened in Singapore on June 21, just outside the Marina Bay Sands casino. During the first two weekends, wait times stretched from one to two hours, according to an employee. Echoing the sleek front of the nearby Patek Philippe store, Laopu’s windows showed off a delicately crafted golden deer and lotus sutra urn, gleaming against black display panels, as if in a museum. The company uses traditional Chinese gold crafting techniques inspired by ancient royal jewelry. Jessie Lim, a 52-year-old Singaporean, said she entered the store with low expectations but left with a bracelet on her wrist and a butterfly necklace on her daughter’s neck — a total purchase of at least $4,000. “The designs are very exquisite. Even the wings of the butterfly are double-layered,” she said. “There are also diamonds [inset into the pieces].” In a sign of growing global attention, San Antonio Spurs’ player Victor “Wemby” Wembanyama also picked up one of Laopu’s “hulu” gourd-shaped pendant necklaces while visiting Beijing last month, the athlete’s China representatives told CNBC. The 21-year-old French basketball player has rocked the gold necklace in recent public appearances, including a New York City sports show . …
