Now the Top Luxury Brand for China’s Richest

BMW was voted the top luxury brand by China’s richest individuals, according to new research into the lifestyle of China’s emerging elite. Second come Louis Vuitton, followed by Mercedes-Benz and Rolex.

The research carried out by the Hurun Report, China’s leading luxury business magazine, questioned 604 Mainland Chinese entrepreneurs with wealth of at least 10 million RMB their lifestyle and spending habits.

Whilst BMW was the clear overall winner, the survey highlighted the growing sophistication levels of China’s high net worth individuals with the likes of Giorgio Armani and Cartier also making the top ten. For Chinese women, Louis Vuitton was voted top luxury brand.

Report Hoogewerf , CEO of the Hurun Report said the 2007 findings suggest China’s millionaires are taking their lifestyle more seriously, and are growing more sophisticated as a result. “In the past it was enough to have a Haier aircon unit,but now there is a class of Chinese that aspires to the best their Western counterparts have and that includes buying the expensive brands and having more time to enjoy themselves.”

TOP TEN Luxury Brands:
1. BMW
2. Louis Vuitton
3. Mercedes-Benz
4. Rolex
5. Giorgio Armani
6. Ferrari
7. Rolls-Royce
8. Bentley
9. Cartier
10. Vacheron Constantin

Source: Hurun Report 2007 Best of the Best Survey

“Luxury brands have only been around for a brief time in China,” says Hoogewerf. “For those who make their million, buying a luxury car and watch are the first symbols of success.”

China has a strong gift-giving culture, which-coupled with its fast-growing economy—makes it highly attractive to Western luxury brands Chinese New Year is a prime gift buying time.

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