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<Research>Kaiyuan Securities: LAOPU GOLD (06181.HK) Opens New Stores in Shanghai IFC & SG, Further Expanding Domestic/ Int'l High-end Channel Layout
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LAOPU GOLD (06181.HK) opened nearly 2% higher this morning before hiking gradually, and once spiked 18% to a high of $1,035 during intraday trading session. It last surged 15.7% at $1,015, with a turnover of $3.272 billion. LAOPU GOLD's Shanghai IFC store and Singapore Marina Bay Sands (MBS) store officially opened, marking another breakthrough in upgrading domestic and international channels, according to a research report released by Kaiyuan Securities. Last Saturday (28th), LAOPU GOLD officially opened a store in one of China's luxury goods landmarks, the Shanghai IFC. The store is located on the LG1 floor. On the opening day, a promotion of a RMB100 discount for every RMB1,000 spent was offered, along with 3x mall reward points, resulting in robust sales and queue time of nearly two hours. The broker believed that the opening of the Shanghai IFC and Singapore stores signifies a new level of expansion in LAOPU GOLD's high-end channels both domestically and internationally. The intensive expansion in domestic high-end malls continues to enhance the Company's brand momentum, while the opening of the first overseas store promotes brand internationalization and further opens up growth opportunities abroad. AASTOCKS Financial News Website: www.aastocks.com |
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