Towards the end of July, the Chinese gold shop and jeweller Lao Feng Xiang launched an unexpected collaboration. Of course, any IP collaborations these days are to be expected but what’s surprising is the ambition of the presentation of the co-branding. With the popular Japanese anime IP Gundam, specifically Gundam SEED (2002-2003), Lao Feng Xiang has produced a limited-edition model of the Freedom Gundam made from 1kg of pure gold. Now “goods”, or ACGN merch has turned from “plastic gold” to actual gold.
Teaming up with Bandai NAMCO, the maker of Gundam plastic models (Gunpla) and toys, Lao Feng Xiang built the heavyweight model out of 999-purity gold. It’s limited to 10 in the world and will set you back 880,000 RMB (123.872.14 USD). A further 199 100g versions will also be released. Additionally, pendants based on dog tags and other motifs from the Gundam series will be available, with varying weights between 1 and 10 grams of 999 gold. Lao Feng Xiang also turned its Yu Yuan branch into a concept store with a gold model on display, while the large Gundam cutout has become a “check-in” spot for Gundam fans.
The Gundam series is a military science fiction franchise across multiple media and universes, focusing on the titular weapon Mobile Suit (a mecha, or robot piloted by human pilots), Gundam and other models. The SEED series was one of the most popular sub-series and has spawned two direct sequels and multiple spin-offs. A sequel film Mobile Suit Gundam SEED Freedom was released earlier this year. “Freedom” refers to the Gundam type in the SEED series Freedom Gundam, which is what the gold model is based on.
Gold prices remain high as demand for gold jewellery dropped to a 15-year low. Although Lao Feng Xiang’s revenue grew 13.37% year-on-year in 2023 and reached number 2 in revenue, branch number and share prices after Chow Tai Fook of Hong Kong, it still faces difficulties such as lower gross margin at 8.3% despite higher prices. By investing in popular IP co-branding, the veteran gold shop aims to attract more young consumers to traditional gold shops like itself. Judging from the queue outside the concept store, it is off to a good start
