UK Luxury Brands in China Report

Source:Hurun Research Author: IssueTime:2017-01-25

The Hurun Research Institute today released the UK Luxury Brands in China Report, highlighting the impact UK brands are having on the Chinese luxury consumer.

UK breaks into Top 10 Preferred Destination of Choice for Travel, up 4 Places

 

HURUN REPORT - LEADING AUTHORITY ON CHINA’S WEALTHY - RELEASES THE UK LUXURY BRAND IN CHINA REPORT

 

  • Travel. The UK won Top 10 International Luxury Travel Destination Star Performer, up 4 places to sixth. British Airways won Business Class to Europe Star Performer for the third consecutive year. Hoogewerf said, “Chinese luxury consumers continue to be extremely busy, away on business trips for 8 days a month on average, up one day YOY. Despite this, they take 10 days for holiday, 3 days more than last year, whilst the super-rich take 5 more days than last year to 15 and go abroad 3.4 times a year on average, twice for traveling. ”

  • FashionBurberry shoot back into Top 10, after a two year break, for the Best Brand for Gifting by Men, coming behind Moutai and Chanel in sixth. Despite this, Burberry fell six places to eighth for Best Fashion Label for Men and dropped to sixth for Best Fashion Label for Women. Dunhill slipped one place to seventh for Best Fashion Label for Men and down to twelfth for Best Accessory for Men.

  • Education. The US come into the Top with 34%, and the UK a strong second with over 20%, same as last year. BE Education won Best High-End Overseas Study Brand for the eighth year running.

  • Luxury Retails. Harrods won Best London Luxury Shopping Destination for the fourth year running. Backes & Strauss won Best British Jewelry Watch for the first time.

  • Real EstateLondon was listed 14th for preferred cities for Chinese to buy residential property. The US held onto the leading positions led the way with LA, San Francisco, and Seattle.Berkeley won Best Luxury Homebuilder in London for the second year running.

  • Real estate brokers. Knight Frank won Best Luxury Real Estate Advisor in the UK for the third consecutive year. Christie's International Real Estate won Global Luxury Real Estate Network Star Performer also for the third year running.

  • Cars. The UK super luxury car brands see excellent performance this year. Rolls-Royce Ghostwon Best Super Luxury Executive Car, followed by Bentley MulsanneRolls-Royce Wraith won Best Super Luxury Car for Self-Drive, followed by Aston Martin DB9Aston Martin DB11 won Super Car Best New Arrival. Jaguar XFL won Executive Car Star Performer. Range Rover won Best Luxury SUV for the second consecutive year.

  • DrinksRoyal Salute was the winner again for Best Premium Whisky award for the ninth year running. Johnnie Walker Blue won Premium Whiskey Star Performer for the third consecutive year. Macallan won Best Single Malt Brand for the fifth year running. Singleton won Single Malt Best New Arrival. Shuijingfang, acquired by Diageo, the UK drinks giant, won Baijiu Brand Star Performer and shoot into Top 3 for Best Baijiu Brand, following Moutai and Wuliangye.

  • FinanceHSBC won Best Foreign Bank for Personal Banking for the twelfth year running. Bank of China UK won Best Bank for Global Chinese in UK for the first time.

  • Collecting. Christie's broke back for Best International Auction House. Hoogewerf said, “The appetite for collecting by Chinese luxury consumers bounced back 10% this year.” Classic cars remained as Top 10 collectables, coming in ninth.

  • Interiors. de Gournay won Best Hand Painted Wallpaper again.

  • Ten Trinity Square Private Club won Luxury Private Club in UK Best New Arrival.

  • Horses. Riding has been number one most want-to-try sports in next three years by China’s luxury consumers, followed by surfing and sailing. Heilan Equestrian won Best Equestrian Center in China for the third year running, whilst Reignwood Polo Club won Best Equestrian Club in Beijing, Jinma International Equestrian Sports Park won Best Equestrian Park in Chengdu and County Down Club won Equestrian Club in Shanghai Best New Arrival.

 

 

(25 January 2017, Shanghai & London) The Hurun Research Institute today released the UK Luxury Brands in China Report, highlighting the impact UK brands are having on the Chinese luxury consumer. This report summarises the UK-related content from the Hurun Best of the Best Awards 2017, and theHurun Report Chinese Luxury Consumer Survey 2017 (‘CLCS 2017’). This is the second year Hurun Research has revealed the UK Luxury Brands in China Report, the last one being two years ago in January 2015.

 

This is the thirteenth consecutive year Hurun Research has revealed the brand preferences, consumption habits and lifestyle trends of China’s wealthiest individuals. Widely regarded as an ISO 9000 for China’s luxury sector, the CLCS has become a benchmark for the luxury sector.

 

Hurun Report Chairman and Chief Researcher Rupert Hoogewerf said, “The drop in the pound post Brexit certainly helped the UK become a preferred travel destination.”

 

Market Size

By May of 2016 , the number of millionaires (defined as individuals with personal wealth of CNY 10 million, equivalent to US$1.42 million) in China’s 31 provinces, municipalities, and autonomous regions, apart from Hong Kong, Macao, and Taiwan reached 1,340,000 - an increase of 130,000 from the previous year, an increase of 10.7%. Among those figures the number of super-rich (defined as individuals with personal wealth of CNY 100 million, equivalent to US$14.2 million) has already reached 89,000, an increase of 11,000 people within the last year - a 14.1% rise, according to Hurun Wealth Report 2016.

 

Hurun Rich List 2016 swelled to 2056 individuals, up a record-breaking 179 with same cut-off of CNY 2bn (US$292m) as last year. 594 dollar billionaires, despite a slight decrease, propelled China ahead of the US for the second consecutive year. Greater China now has 754 dollar billionaires, after adding in 94 billionaires from HK, Taiwan and Macao. This compares with only 535 in the US, according to the most recent Hurun Global Rich List.

 

 

Awards

The Best of the Best is for the overall winner of a category. The Star Performer is for the product / service with the best year on year performance. The Best New Arrival is for a product / service launched into China in the past 12 months that has shaken up the market.

 

Between Sep and Dec 2016, the Hurun Research Institute, a wholly-owned subsidiary of Hurun Report Inc, surveyed 449 Mainland Chinese ‘millionaires’, defined as individuals with a personal wealth of RMB 10 million (equivalent to USD 1.4 million). Amongst them were 62 super-rich (12%), defined as individuals with wealth of RMB 100 million (USD 14 million). Their average wealth was USD 6.7 million; the average age was 38 years, one year older than last year; the ratio of men to women surveyed was 6:4. Respondents were from more than 40 cities, 60% coming from the first tier cities of Beijing, Shanghai, and Guangzhou. The Hurun Research Institute has carried out this survey now for 13 years running, surveying 6101 millionaires making this the largest and most authoritative survey of its kind in China.

 

For press release and full list of Hurun Chinese Luxury Consumer Survey 2017, please refer to:

CHN: https://www.hurun.net/CN/ArticleShow.aspx?nid=20952

ENG: https://www.hurun.net/EN/ArticleShow.aspx?nid=20953

 

 

 

About Hurun Report Inc

since 1999

 

Established as a research unit in 1999, Hurun Report Inc. has grown into a leading media group targeted at China and India high net worth individuals. Its flagship is the Hurun China Rich List and, since 2012, the Hurun Global Rich List. Headquartered in Shanghai, Hurun Report has offices in Beijing, Guangzhou, Chengdu, Sanya, London, Los Angeles, Chicago and Cochin, Kerala, in India.

 

Hurun Report Inc has five divisions.

Hurun Research (‘Nobody Knows China’s Rich Better’) has grown to become the world’s leading authority when it comes to understanding the Chinese high net worth individual. Recent reports include partnering with some of China’s most important financial institutions, local government, multinationals and luxury brands, including Bank of China, Taikang Insurance, Marriott International, Minsheng Bank, Minsheng Financial Leasing, Industrial Bank of China and the Changbaishan government.

 

Hurun Media (‘The Voice of Chinese Entrepreneurship’) reaches between up to two million unique viewers a week through its multi-platform distribution. Hurun Media has four key media brands, led by Hurun Report (business and entrepreneurship), Hurun Education, Hurun Art and Hurun Health. Its flagship business media Hurun Report has an active WeChat social media, an online business talk show called MaShangHu, distributed through iQiyi, and PC- and Mobile-friendly website www.Hurun.net.

 

Hurun Conferences and Training hosts over 100 events across China every year, led by its flagships in Beijing and Shanghai every year.  Hurun Conferences and Training brings Chinese entrepreneurs aboard, to the US, London, Singapore, Australia and India. Hurun Business School started in 2016.

 

Hurun International. Hurun Report Inc established its India business in 2012, which today is best-known for the Hurun India Rich List, Hurun India Philanthropy List and for hosting events with some of India’s most respected entrepreneurs. 

 

Hurun Investments includes a CNY 100m early-stage venture capital fund, and strategic investments in media, education, media, classic cars, financial services and luxury.

 

For further information, see www.hurun.net

 

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