Controversies
Controversies tied to this brand in public sources. A listing is not a finding of fault.
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2026
"Fixed-Price" Gold Trade-In Weight LossQuestioned
In February 2026, multiple consumers complained that Lao Miao Gold's "fixed-price" gold jewelry did not disclose weight at purchase, and that weight dropped sharply in trade-ins—for example, 5.5 grams was credited as only 2 grams, and about 50 grams was exchanged for 29 grams—with more than 2,400 complaints. In the same period, a Hubei spot-check reported that two batches of Lao Miao gold jewelry failed labeling standards. Media also noted that its parent company, Yuyuan Inc., expected a loss of 4.8 billion yuan and that Lao Miao stores shrank by several hundred in a year. Lao Miao Gold said it had fully rectified the issues; some cases were resolved through returns or compensation after mediation.
2013
Lao Miao and Four Other Gold Stores Penalized for Gold Jewelry Price Monopoly
Shanghai price authorities determined that Lao Miao and four other gold stores, organized by an industry association, manipulated retail prices of gold and platinum jewelry using a unified formula and floating range, and imposed a combined fine of 10.5937 million yuan on the association and the five stores. The companies have stopped the practices and pledged to rectify; the amount is the total for the entire case. Status: administrative penalty. Parties involved: Lao Miao Gold and other gold stores involved, and the Shanghai Gold Jewelry Industry Association.