Luxury Brands Status Index for Japanese and Chinese shoppers
European luxury brands are warmly received by wealthy shoppers throughout Asia. These are the findings of the new Luxury Institute‘s Luxury Brands Status Index surveys. The report offers the rankings of dozens of luxury brands by high net-worth consumers from Japan and China.
Respondents were 21 years of age and older, earning the equivalent of at least $185,000 per year — one million Chinese renminbi or 15 million Japanese yen.
Wealthy Japanese and Chinese shoppers rated each brand on quality, exclusivity, social status and overall ownership experience. Also considered were price worthiness, willingness to recommend the brand and likelihood of purchase.
Based on overall Luxury Brands Status Index (LBSI) scores, the top luxury brands rank as follows in Japan and China:
The most preferred hotels:
China: Fairmont Hotels & Resorts; JW Marriott; Aman Resorts
Japan: Ritz-Carlton; Orient-Express Hotels; Aman Resorts
The most preferred handbags:
China: Chanel; Louis Vuitton; Dior
Japan: Hermès; Chanel; Louis Vuitton
The most preferred Women’s Fashion:
China: Chanel; Dior; Hermès
Japan: Hermès; Chanel; Louis Vuitton
The most preferred brands in Luxury Men’s Fashion
China: Giorgio Armani; Versace; Brioni
Japan: Hermès; Louis Vuitton; Burberry
“European luxury brands are warmly received by wealthy shoppers throughout Asia,” said Milton Pedraza, CEO of the Luxury Institute.
“Japan’s market is more mature and surprisingly resilient so far in the aftermath of the tsunami and quake, while growth stays red hot in China. Firms need to know where they rank.
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