Apple top gift among China's super rich
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Apple overtook Hermes to become the most-favoured gift brand among China's super rich last year, followed by Louis Vuitton, according to China Daily.
Referring to the latest Hurun Report published by the Shanghai-based magazine that documents the lives of the wealthy, the daily said that the No 1 brand in 2013 dropped to seventh on the latest list.
Prada, Burberry and Giorgio Amarni dropped out of the top 10 men's gifts altogether, while among women recipients, Apple remained top followed by a previous longtime favourite Chanel. Prada and Bulgari no longer featured in their top 10.
Yet, overall the super rich continued being thriftier in their gift giving last year, in line with the government's national frugality campaign.
Polling 376 people with an average personal wealth of 41.7 million yuan (US$6.67 million), the survey found that respondents' spending on gifts fell a further 5 per cent in 2014, bringing their total cutbacks over the past two years to 30 per cent.
Elsewhere, the report revealed that the popularity of giving wine as a gift fell by a third, and while healthcare products still remained the most popular gifts for people to give to the elderly, its overall share of total giving dropped to 29 per cent.
The Nation
