If you find yourself gift-shopping for a Chinese millionaire anytime soon, head straight to the leather goods section of your nearest department store and pick up anything from Louis Vuitton.
The luxury brand topped a new list of the brands Chinese millionaires most like to give their friends and business contacts, with 14.9% of the 503 millionaires interviewed saying it was their label of choice.
Just one Chinese brand made the top 10. Moutai, maker of a Chinese alcoholic beverage called baijiu, placed fifth, with 5.9% of millionaires interviewed saying it was their favourite gift brand.
Here are the top 10, from HuRun Report:
[credit provider=”HuRun Report” url=”http://www.hurun.net/usen/NewsShow.aspx?nid=177″]
There are currently 960,000 people in China with net worths of more than $1.5 million, and 60,000 with more than $15.5 million, HuRun has said.