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The World Luxury Index™ China 2013
28/06/13, 01:31 | |
Chanel
has become the #1 most sought-after global luxury brand in China,
according to the World Luxury Index™ China – 2nd Edition. The brand
overtook Louis Vuitton thanks to rising interest in various product
segments, particularly beauty. Interest for Louis Vuitton on the other
hand originated mainly from the fashion segment, accounting for almost
three-quarters of total interest in the brand.
Digital
Luxury Group (DLG), the first international company to create luxury
industry market intelligence, in partnership with Luxury Society, the
world’s largest community of luxury executives, unveil the World Luxury
Index™ China – 2nd Edition, a ranking and analysis of the most-sought
after luxury brands in China.
This
year’s report reveals that Chinese consumer interest in the luxury
market is dominated by heavyweights: Cars (53.50%), Beauty (22.70%) and
Fashion (14.90%). New brands to enter the Top 50 are: Elizabeth Arden
(#43) and Rado (#50), whilst Salvatore Ferragamo and Moncler are "out”
of this year’s rankings.
Among the key trends identified, shaping the China luxury market:
Fashion
– The Top 3 Most Sought-After Fashion Brands in China are: Chanel (#1),
Louis Vuitton (#2) and Gucci (#3). Giorgio Armani, is the fastest
growing fashion brand, up +17 spots since last year. Bags and wallets
dominate the fashion market in China accounting for almost 90% of total
interest. Celine’s "Luggage,” consolidates its iconic status in the
mainland as the #1 most popular handbag model, followed by Hermès’
Birkin and Chanel’s 2.55.
Cars
– Audi (#1) and BMW (#2) maintain their leadership position in the
luxury car segment. Lexus (in 3rd place), breaks the German trio, moving
ahead of Mercedes (now 4th). Jaguar is the rising star, showing the
fastest evolution (+5 places since last year) followed by Cadillac and
Lincoln. Maybach, Ferrari and Maserati experienced the biggest losses in
the category.
Beauty
– Estée Lauder, Lancôme and Dior retain their spot as the three most
desired beauty brands in the Chinese market - Lancôme overtaking Dior as
#2. Skincare accounts for almost 60% of all Beauty searches. American
beauty brands Estée Lauder and Clinique are popular with skincare
products, whilst European brands Dior and Chanel are more popular for
fragrance. Lancôme’s demand is evenly distributed across the three main
segments: skincare, fragrance and makeup. Most popular beauty products
are: Clinique’s Dramatically Different Moisturizing Gel and Benefit’s
dr. feelgood makeup primer. Most popular fragrances are led by French
classics: Dior J’adore, Chanel N°5 and Chanel Chance.
Watches
– Omega, Rolex and Longines lead the Chinese luxury watch segment.
Classic, elegant models dominate Chinese consumer interest lead by
Omega’s De Ville, which becomes the number one most sought-after model
(up 3 spots).
Jewelry
– The Top 3 Jewelry leaders consolidate their stronghold on the market
accounting for almost 90% of total interest, led by Chinese brand Chow
Tai Fook (#1), Cartier (#2) and Swarovski (#3). Rings are the most
sought-after jewelry product, representing over half of all searches, in
majority for Cartier and Tiffany & Co.
Hospitality
– Sheraton (#1), Hilton (#2) and Intercontinental (#3) maintain their
lead as most sought-after hotel brands in China. For more information on
the luxury hospitality market, see recently released, World Luxury
Index™ Hotels.
The report is part of the World Luxury Index™,
an international ranking and analysis of the most sought-after brands
within the luxury industry. This study covers 400+ luxury brands within
six key segments (fashion, cars, beauty, watches, jewelry and
hospitality) and provides insights on the interest coming from luxury
consumers in China. The unbiased information is derived from 680 million
consumer online searches originating from leading search engines Baidu
and Google. by Digital Luxury Group | |
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