The Luxury Institute reported todayresults of the "Best of the Best" luxury brands in China based on the 2009 Luxury BrandStatus Index (LBSI) survey, which identifies the top brands thatdeliver true luxury based solely on the unbiased ratings of wealthy Chineseconsumers. The following six luxury categories were rated: Women's Fashion(29 brands), Women's Shoes (18 brands), Handbags (27 brands), Men's Fashion(25 brands), Men's Shoes (25 brands) and Automobiles (20 brands).
The LBSI asks high net-worth consumers to rate luxury brands by categoryacross four equally weighted components: Consistently Superior Quality,Uniqueness and Exclusivity, Making the Customer Feel Special Across theEntire Experience and Being Consumed by People Jewellery Brooch Who Are Admired andRespected.
Which luxury providers deliver the best combination of quality,exclusivity, customer experience and peer prestige in China?
The "Best of the Best" are: (LBSI score out of 10)
-- Women's Fashion -- Prada - 8.77 -- Yves Saint Laurent - 8.75 -- Hermes, Gucci and Dolce & Gabbana (tied) - 8.68-- Women's Shoes -- Ferragamo - 8.69 -- Gucci - 8.66 -- Hermes - 8.64-- Handbags -- Hermes - 8.93 -- Lulu Guinness - 8.77 -- Ferragamo - 8.76-- Men's Fashion -- Giorgio Armani - 8.74 -- Louis Vuitton - 8.68 New Jewellery Products -- Dior Homme and Paul Smith (tied) - 8.54-- Men's Shoes -- Louis Vuitton - 8.66 -- Versace - 8.51 -- Giorgio Armani, Brian Atwood and Gucci (tied) - 8.48-- Automobiles -- Porsche - 8.79 -- Mercedes-Benz - 8.72 -- BMW - 8.70
"China is now the most important luxury market for near-future growth forluxury brands," said Milton Pedraza,CEO of the Luxury Institute . "In some ways, Chinese luxury consumerscovet many of the same brands as the Japanese. In other ways, they tend torate luxury brands much higher, yet differentiate far less between brandsthan their more experienced Japanese counterparts. Early movers whoflawlessly execute on the new luxury fundamentals and ignore the 'back tobasics' movement will have the advantage because the luxury game in Chinais still wide open, therefore luxury brands will have to go to a new,innovative level; making China a wonderful laboratory for globalinnovation."
The proprietary Luxury BrandStatus Index (LBSI) survey is the only unbiased measure of the prestigeof leading brands among wealthy Chinese consumers. A national sample of 600wealthy Chinese consumers, with a minimum household income of 1 millionChinese Renminbi (or 147,000 U.S. Dollars) and an average household incomeof 381,000 U.S. Dollars was surveyed online.
About the Luxury Institute ( )
The Luxury Institute is theuniquely independent and impartial ratings and research institution that isthe trusted and respected voice of the global high net-worth consumer. TheInstitute provides a portfolio of proprietary publications and research andconsulting services that guides and educates high net-worth individuals andthe companies that cater to them on leading edge trends, high net-worthconsumer rankings and ratings of luxury brands, and best practices. TheLuxury Institute also operates the LuxuryBoard.com ( ),the world's
embroidered patches first global, membership-based online community for luxurygoods and services executives, professionals and entrepreneurs.
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