Wei Song noticed the fashion models first, preening in their chiffon-and-lace gowns. They flanked the entrance to Shanguang Jewelers’ flagship store on Nanjing Road. A vintage Eagle roadster was parked nearby; a dozen well-heeled men and women clustered around it. Song could see more people inside the store, sipping champagne. Many were trying on watches.

A version of this article appeared in the May–June 2017 issue (pp.155–159) of Harvard Business Review.