|
The U.S. tech firm's focus on glitzy stores and
high prices helped it post a 70 percent rise in sales in China
in the last three months of 2014 and powered the company to the
largest profit in corporate history.
Spending on gift-giving overall dropped 5 percent in 2014, after
a 25 percent drop the year before, according to the Hurun
Chinese Luxury Consumer Survey. Beijing has been cracking down
on corruption and luxury spending among public officials,
weighing down sales of premium liquor to handbags.
Domestic luxury spending in China dipped for the first time last
year, according to consultancy Bain & Co, with increasing
numbers of shoppers looking to spend money overseas.
"Travel retail continues to change the dynamics of luxury in
China, with 7 out of 10 luxury goods bought by Chinese now being
bought overseas," said Hurun Report Chairman Rupert Hoogewerf.
Hermes dropped to seventh from the top spot last year, while
Chinese premium liquor maker Kweichow Moutai Co Ltd re-entered
the top 10 after a two year hiatus, a potentially positive sign
after sales were hit by the anti-luxury campaign.
Apple in first place was followed by LVMH Moet Hennessey Louis
Vuitton SE, Kering SA's Gucci and Chanel.
The report, which has been carried out for over a decade, was
based upon a survey of close to 400 millionaires with a personal
wealth of 10 million yuan ($1.6 million).
(Reporting by Adam Jourdan; Editing by Christopher Cushing)
[© 2015 Thomson Reuters. All rights
reserved.] Copyright 2015 Reuters. All rights reserved. This material may not be published,
broadcast, rewritten or redistributed.
 |
|
