International News
US jewellery sector sees strong showing on Black Friday, 2.8% y-o-y growth
The US jewelry sector emerged as a standout performer during this year’s Black Friday sales, solidifying its position as one of the top retail categories in the U.S. for the holiday season. According to fresh data from Mastercard SpendingPulse, the jewelry category experienced a robust 2.8% year-on-year growth, signaling strong consumer appetite for luxury and accessories despite a mixed economic climate.
The Digital Shift While in-store traffic contributed to the rise, the digital channel proved vital to the sector’s success. Online jewelry sales outpaced the category average, climbing 4.2% compared to the same period last year. This aligns with a broader retail trend observed on November 28, where total e-commerce spending surged by 10%, highlighting the consumer preference for clicking over brick-and-mortar browsing for high-ticket items.
Sector Rankings In the hierarchy of holiday spending, jewelry secured the silver medal. The division was second only to Apparel, which dominated the day with a substantial 6% growth across both physical and digital storefronts. Overall, the retail landscape remains healthy; total retail sales for the major shopping holiday rose 4.1% compared to the previous year.
Consumer Sentiment: Strategic Spending The spike in jewelry and apparel suggests a specific consumer psychology at play. Shoppers are actively looking to refresh their wardrobes and invest in “wish-list” items, but they are doing so strategically. Facing an uncertain economic environment, consumers are navigating the season by:
- Shopping Early: Beating the holiday rush to secure inventory.
- Leveraging Promotions: Hunting for significant deals to maximize value.
- Investing in Quality: Prioritizing lasting items over disposable trends.
Regional Hotspots Geographically, the enthusiasm for holiday spending was not uniform. Mastercard noted that spending intensity was concentrated in specific regions, with New England, the Midwest, and the Southeast posting particularly high engagement numbers.
International News
Kering Invests in China’s Gold Jewelry Surge as Laopu’s Explosive Growth Reshapes Market
Heritage-gold brands Borland and Lamchiu secure major funding amid soaring demand, fueled by Laopu’s meteoric rise and China’s booming 24-karat segment.
A wave of investor interest is sweeping through China’s gold jewelry sector as the rapid rise of Laopu Gold Co. galvanizes confidence in the country’s high-end heritage gold market. The latest beneficiary is Borland, a Hangzhou-based jeweler known for its traditional filigree craftsmanship, which this week announced more than 100 million yuan ($14 million) in new funding.
The investment round includes contributions from Kering Ventures, the startup arm of luxury group Kering SA, and Shunwei Capital, co-founded by Xiaomi chairman Lei Jun. Kering noted that its minority stake enables participation in the “rapid development of a particularly buoyant 24-karat gold jewelry segment,” reflecting growing appetite for culturally rooted premium gold pieces.
Meanwhile, Dayone Capital has made a separate investment exceeding 100 million yuan in Lamchiu, a Lanzhou-based maker of handcrafted bespoke gold jewelry. The firm will support Lamchiu in expanding distribution and reinforcing the brand’s supply-chain capabilities.
The surge of capital follows the remarkable ascent of Laopu, which has become one of China’s breakout jewelry success stories. The company reported 12.4 billion yuan in revenue in the first half of 2025 — a year-on-year increase of over 250%, building on 168% growth from the previous year. Laopu’s momentum has outpaced Western luxury houses struggling with softer China demand.
Heritage gold jewelry — deeply rooted in Chinese aesthetics and traditional techniques like filigree — is attracting a new generation of luxury consumers. Brands like Laopu, which operate in top-tier malls, increasingly compete with global maisons such as Hermès and Cartier for clientele.
Despite strong digital followings, newer brands still face distribution gaps. Borland operates only three mall stores, while Lamchiu, despite amassing more than 1 million followers on Douyin, runs just one physical outlet in Lanzhou. Both companies plan to use their fresh funding to accelerate expansion and strengthen operational infrastructure.
The latest investments signal rising confidence that China’s heritage-gold renaissance is evolving from a trend into a long-term luxury category shaping the future of the jewellery market.
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