Branding is high on the agenda of many companies in China, but its works mostly with the top-layer of rich Chinese, says Hurun-founder Rupert Hoogewerf to Bloomberg. In the Hurun magazine Hoogewerf lists their preferences: holidays in the US, watches from Cartier and Philippe Paket, they smoke Chunghwa and flight Air China.
Hurun interviewed 383 Chinese with at least 10 million Renminbi (1 million euro) in assets, part of a group of around 825,000 high earners.
“They have a greater awareness of brands,” Rupert Hoogewerf, Hurun’s Shanghai-based founder and chief researcher, said in an interview. “They are also more international-minded and keener to give their children a foreign education.”
Four of five surveyed plan to send their children abroad, preferably the U.S., for high school, undergraduate or post- graduate studies, said Hoogewerf. They are taking more time off, averaging 15 days a year compared with 11 days three years ago; each owns three cars and about five watches that cost $10,000 or more a piece, he said.
For a complete list of their favorite brands, read here.