According to the Hurun Report survey, BMW was voted the top luxury brand by 600 China’s richest individuals. Second came 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 on 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.
Between May and November 2006, Hurun Report surveyed 604 Mainland Chinese high net worth individuals (defined as with assets of over US$1 million), of which 191 have assets of over US$10 million.
For the third year running, surveys were carried out on a one on one basis, making this the largest and most authorative survey of its kind in China.
85% of respondents were male.
The average age of respondents was 40 years.
24% have no university education.
Results compiled by Sinomonitor International, leading market researchers for China.