 Louis Vuitton is the most desired luxury brand among Asia Pacific consumers, particularly those in Hong Kong and Singapore, according to Nielsen's latest global luxury brands study. The study revealed Hong Kong is the most brand conscious market in Asia exceeding the regional average of 15% claiming to buy luxury branded products and topping the world with the most consumers purchasing Gucci, Louis Vuitton and Burberry. Yvonne Lum, director, retailing research for The Nielsen Company Hong Kong, said
the company's tracking of Hong Kong consumers' retailing spending shows an average of $6, 000 per capita was spent on luxury products in Hong Kong during the past quarter.
With Louis Vuitton topping luxury brands across the region, Lum said LV has held its brand values constant, which is critical for any brand to maintain customer loyalty and to appeal to the aspirational.
In Mainland China, however, Chanel is the most aspired to brand, second to LV across the region.
The survey also revealed consumers are receptive to crossover products between a designer fashion brand and a new technology gadget.
Hong Kong will be the first market in Asia to launch a new luxury mobile phone designed by Giorgio Armani and Samsung tonight.
"Today's mobile phone manufacturers no longer just sell mobile phones, but sell more than the product itself- a slice of life and culture", Geesung Choi, president for Samsung Electronics said.
"We truly believe that our approach with Giorgio Armani is one step closer to our customers to enrich their lives with sophisticated style and cutting-edge technology", he added.
(Source: Marketing Magazine)
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