China’s wealthy have been found “head over heels” over French brands, according to a new study by Hurun Research Institute

The study reveals the lifestyle and brand preferences of China’s rich, and is intended to provide a holistic understanding of the spending habits and lifestyle changes of this burgeoning, influential and ever-changing consumer class.

It has been found out that French brands are still the rage, dominating the list of preferred brands for gifting. Accessories such as leathers were the most selected products for gift giving.

Louis Vuitton and Chanel were top preferred brands for men and women respectively. French wine Chateau Lafite was the only drinks brand which made it to the top 10.

Luxury brands from other countries has also made it to the top 10 such as Burberry of the UK on the ninth place. Gucci of Italy and Montblanc of Germany also performed well this year, breaking into the top 10 for the first time.

Meanwhile, liquor brand Moutai of China has struggled this year, falling to 13th place in the preferred brand for gifting, down from fifth last year. The drop in popularity came on the back of a public debate about whether government officials, the largest customer base for Moutai, should be allowed to a consume a brand which is effectively a luxury brand, together with a health scare involving the use of plasticizers.

The luxury watch industry has had a tough year, perhaps brought on by bad PR for the industry following cases involving financial irregularities of government officials and watch ownership. Swiss watch brand Longines was the only brand to the make it to the list, coming in at 15th place and replacing the more expensive brand Rolex which dropped off the list.

Electronics brand Apple moved to second place as preferred gift brand for men, from fourth last year.

GB