Apple Is Now China's Top 'Luxury Brand'

Apple now ranks as China’s most coveted luxury brand, according to a recently released survey of the nation’s millionaire shoppers.

The device maker shouldered aside all of the old mandarins of the luxury market, including Louis Vuitton, Cartier and the previous year’s winner, Hermes, according to the Hurun Research Institute’s annual survey of 347 ultra-wealthy individuals. Individuals whose net worth exceeded 10 million RMB (equivalent to $1.6 million) ranked Apple as the “best” brand of gift giving to men and women.

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People pass time as they wait outside an Apple store for the iPhone 6 and 6 Plus in London on Sept. 17, 2014.

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People wait in line in front of the Apple Store in Tokyo on Sept. 18, 2014.

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A man sleeps in a tent in the queue outside an Apple store in London on Sept. 18, 2014.

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A man wearing a replica of an iPhone 6 Plus model on his head yawns while waiting in front of an Apple Store in Tokyo on Sept. 19, 2014.

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A woman sleeps in a chair as she waits in queue outside the Apple store in London on Sept. 18, 2014.

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A staff member removes a display poster of iPhone 5S at an Apple store in Tokyo on Sept. 18, 2014,.

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Customers queue outside an Apple store in Hong Kong on Sept. 19, 2014.

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Ken Miyauchi Vice President of Softbank, Japanese mobile phone company and actress Sayaka Kanda, in a pink dress, react during a ceremony to mark the first day of sales of the latest iPhone 6 and 6 Plus at a store in Tokyo on Sept. 19, 2014.

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After being first in line for 19 days, Moon Ray, from Jackson, Miss. runs the gauntlet of Apple store workers as she enters the Fifth Avenue Apple store in New York on Sept. 19, 2014.

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Apple store staff high five customers as they enter an store in Tokyo on Sept. 19, 2014.

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A man wearing a mask depicting Apple's co-founder Steve Jobs holds up a cardboard cut-out of Apple's new iPhone 6, as he walks into an Apple Store in Tokyo on Sept. 18, 2014.

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Andreas Gibson celebrates as he exits an Apple store in New York after being the first to purchase an iPhone 6 Plus on Sept. 19, 2014.

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Jamael Ahmed jumps in the air as he leaves the store after being the first to purchase the iPhone 6 at Apple Covent Gardens in London on Sept. 19, 2014.

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“The upcoming Chinese New Year would be the peak of gift giving in China,” Hurun Research said. “Apple has become the most eye-catching gift brand this year.”

And in a sign that Apple could be sailing toward the perfect storm of gift giving, the most popular category of gifts for men this year was watches. The Apple Watch comes out this year.

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