Among male Chinese luxury consumers, Louis Vuitton ranked second, followed by Gucci, Chanel and Montblanc. Hermes fell to seventh place. Among women, Chanel ranked second, followed by Vuitton, Dior and Hermes.
Why would Apple products be more acceptable than other luxury goods? For one thing, they're practical. But more importantly, government officials aren't likely to get criticized for holding an iPhone, while they have often been photographed and criticized for wearing Cartier watches or driving supercars.
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Overall, spending on gift-giving fell 5 percent over the past year, and is down 30 percent over the past two years. Only three out of 10 luxury consumers in China are confident in the economy. But they are taking lots of trips abroad: They are away eight days a month for business and they take eight to 12 days a year of holiday travel.