Louis Vuitton, Cartier, Hermès and Chanel are among the top five brands favoured by wealthy Chinese to buy as gifts for friends and business contacts, based on Hurun Research Institute’s “Top Ten Gifts for the Chinese Luxury Consumer 2012”.
Interestingly, local alcoholic beverage brand Moutai is also among the top five.
In the Chinese Luxury Consumer Survey 2013 by Hurun Report, Cartier is the fifth most popular brand chosen as a gift for men while it is ranked third as the best brand as a gift for ladies.
Cartier is the only brand among the four top European brands classified in the “jewellery and watches” segment by the Hurun Research Institute. Louis Vuitton and Hermès are in the “fashion” sector while Chanel is under the “apparel, accessories and perfumes” segment.
While jewellery remains an important category for the brand, Cartier is also fast becoming an even more popular watch brand, notably in the high horology segment. What Cartier has showcased in recent years for its high horology collections remains impressive and its 2013 line-up will not disappoint either.
For example, among the 2013 collection is the Ballon Bleu de Cartier tourbillon with double jumping second time zone watch.
According to the Hurun Report, watches are the most collectible items in China where one in three respondents in its survey categorise themselves as watch collectors.(A total of 551 individuals were surveyed and each has a personal wealth of at least 10 million renminbi or around US$1.6 million or 1.2 million euros)
This obviously speaks volumes for the potential of luxury watch brands in China.
Other articles on Cartier which may be of interest:
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