Kering Taps China’s Gold Surge with Borland Investment
December 2, 2025
Kering Ventures, Kering Group’s investment arm, has taken a minority stake in Chinese jewelry house Borland, the company confirmed in a statement on December 1.
Kering’s investment in the company — best known for 24-karat gold designs rooted in imperial-era craftsmanship — comes at a time when young consumers are increasingly investing in the category. In recent years, gold has become China’s fastest-growing jewelry category, with younger shoppers buying pieces to express identity and individuality.
“A young consumer buying gold may love the design, but also use the physical object to ease anxiety about an uncertain future,” says Sun Rui, researcher at Beijing’s Renmin University. This blend of aesthetics, cultural symbolism and asset-like security has pushed multi-karat gold into the realm of everyday luxury.
Kering’s move comes amid the growing “Laopu effect”, which has been reshaping China’s hard luxury landscape for the past year. Laopu, another Chinese 24-karat gold brand founded in 2009, saw revenues surpass RMB 12 billion ($1.7 billion) in the first half of 2025 and a 2,300% stock run-up since its initial listing on the Hong Kong Stock Exchange in June 2024.
Kering’s early stake in Borland signifies that Chinese gold houses are no longer peripheral entities, but are redefining where luxury value is made. The investment also aligns with Kering’s broader China reset. At the China International Import Expo (CIIE) last month, the group announced a strategic alliance with Shanghai Fashion Week to support domestic designers, underscoring a shift from market extraction to cultural participation. Under new CEO Luca de Meo, Kering has been working to rebuild momentum in China, and a bet on Borland strengthens the group’s ties to the country’s cultural economy at a critical moment.
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