Iconic labels coming from the UK and United States are earning a growing amount of clout over Chinese shoppers’ wallets and hearts, even though European luxury brands have been favorites in China for a long time. The supreme jewelry brand Tiffany & Co. is the number one American extravagant brand for Chinese high-net worth individuals (HNWI), according to recent survey results discharged by the Hurun Report. Burberry is at the top of the UK brands list.
These labels are both well favored when stacked up against their domestic competitors and able to hold their own against Italian and French luxury devotees. Tiffany made it on the list of Chinese consumers’ top-three preferred jewelry brands world-wide for the first time. Burberry also was third of the list of top fashion brands for women behind French behemoths Dior and Chanel. It was also recognized as one of the top five fashion labels for men.
Another leading American “luxury” brand stirred things up when it was named at the top of Hurun’s global “best brands for gifting” group: Apple. Even the list is dictated by French and Italian brands, Tiffany claimed a seventh place position in the “best giving” category for women.
U.S. and UK brands Tiffany and Burberry, especially-are more open to accepting digital marketing attempts then many traditional European luxury brands. Tiffany has concentrated on mobile marketing in China with both its own platforms and extraordinarily developed WeChat account. Burberry also became one of the first luxury brands to open an official store on Alibaba’s Tmall platform last year. It also hugely developed its WeChat presence and launched numerous innovative campaigns on the platform.
Chinese consumers’ altering preferences when it comes to favorite luxury brands can be viewed as a supply of opportunity for high-end labels despite China’s continuing luxury slowdown. The brands that are making extreme progress with Chinese consumers aren’t really always those with the longest history, but instead those that are able to create a balance between staying true to their iconic background and adopting quickly evolving habits and tastes in the China market.
– Sia’ Richards
Source & Photos: businessinsider.comSee the Top Ten Summer 2016 Trends for Women Over 40