What Swiss watch brand do wealthy Chinese typically opt for when sourcing a gift for men? Well, according to the Hurun Report Chinese Luxury Consumer Survey 2013 released on 15 January 2013, Longines was the only watch brand among the list.
Longines was ranked 15th in the “Best Brand for Gifting by Men”. What was interesting from the survey was how Longines took the place of Rolex, a more expensive brand which was “dropped off the list altogether”.
The report noted that the “luxury watch industry has had a tough year, perhaps brought on by bad PR for the industry following cases involving financial difficulties of government officials and watch ownership”.
Hurun Report founder and Chief Researcher Rupert Hoogewerf explained that, “This year, there is a clear trend towards gifting more modestly-priced top luxury goods.”
While Longines is the top choice for the wealthy in China based on the Hurun Report, another Swiss watch brand popular as a gifting brand on a global basis is Baume & Mercier. According to Philippe Caron, managing Director, Baume & Mercier, South East Asia and Australia, “Around 60% of the brand’s timepieces are bought as gifts.”