Out of all the high-end luxury fashion brands in the markets these days, Chanel has emerged victorious as the go to brand among rich Chinese customers. Chanel has the highest brand awareness reach and is the most purchased brand among China’s wealthy, according to a research conducted by Bomoda – a firm that studies the densely populated country’s consumerism. The research found that 41% of the affluent bought Chanel products frequently, which is almost 10% more than the 32% of people that chose Dior merchandise. Fashion houses Hermes, Gucci and Louis Vuitton too followed Dior in the list, though those brands seemed to appeal to a lesser crowd. Additionally, since gift giving in China is such a big industry by itself, Chanel is probably also a popular choice of gifts for those who can afford it.
The research firm attributes Chanel’s success to the fashion label’s strong vested interests in advertising and retail, through social media and celebrity promotions. In a country like China, where counterfeit products are in abundance, marketing luxury products might be a bit of a struggle; though on the other end of the spectrum wealthy Chinese consumers with greater spending capacities make China a great market to invest in.
The report was based on an online survey response from 2,268 indulgent consumers who had on an average either purchased or received at least two premium branded items.
[via – CNN Money]