Luxury brands are on the hunt to secure brand awareness in China. Actually, for luxury branding China is the new “it” target market and expanding reach to China’s wealthy elite is a smart move. Many feel that the future growth of luxury brands will depend on China’s luxury market. I feel that luxury brands that focus on targeting China’s wealthy consumers can expand their brand awareness and increase profit earnings.
The Luxury Institute released the results of “Best of the Best” luxury brands in China based on the 2009 Luxury Brand Status Index (LBSI) survey, which identifies the top brands that deliver true luxury based solely on the unbiased ratings of wealthy Chinese consumers.
The “Best of the Best” are: (LBSI score out of 10)
— Women’s Fashion
— Prada – 8.77
— Yves Saint Laurent – 8.75
— Hermes, Gucci and Dolce & Gabbana (tied) – 8.68
— Women’s Shoes
— Ferragamo – 8.69
— Gucci – 8.66
— Hermes – 8.64
— Handbags
— Hermes – 8.93
— Lulu Guinness – 8.77
— Ferragamo – 8.76
— Men’s Fashion
— Giorgio Armani – 8.74
— Louis Vuitton – 8.68
— Dior Homme and Paul Smith (tied) – 8.54
— Men’s Shoes
— Louis Vuitton – 8.66
— Versace – 8.51
— Giorgio Armani, Brian Atwood and Gucci (tied) – 8.48
— Automobiles
— Porsche – 8.79
— Mercedes-Benz – 8.72
— BMW – 8.70
I feel the best media publication to reach China’s wealthy consumers is eFashion Magazine. Which is the largest magazine publication targeting China’s wealthy consumers.