Burberry saw a decline in interest among Chinese affluents
The United Kingdom?s European Union referendum vote caused the pound to decline in value and, as a result, affluent Chinese are finding the country an attractive travel destination, according to a report by Hurun.
In its ?UK Luxury Brands in China? report, a focused summary based of the ?Best of the Best Awards 2017? survey and the ?Chinese Luxury Consumer 2017? study, Hurun explored the impact British brands are having on China?s luxury consumer. British brands and culture, in many ways, represent the old guard of luxury due to dedication to heritage, quality and craftsmanship, concepts that align with Chinese sentiment.
?The drop in the pound post-Brexit certainly helped the U.K. become a preferred travel destination,? said Rupert Hoogewerf, chairman and chief researcher for Hurun Report. For this report, Hurun surveyed 449 Mainland China millionaires with personal wealth of RMB 10 million, or $1.4 million at current exchange, between September and December 2016.
The best of Britain

For travel, the UK saw the largest jump in placement, moving up four positions to number six in Top 10 International Luxury Travel Destinations preferred by Chinese consumers.
In terms of fashion brands, the quintessential British label Burberry is struggling among Chinese consumers. For women, Burberry apparel dropped to sixth as the Best Fashion Label while for male consumers, the brand fell six spots to eighth among Chinese shopp...