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When a Chinese publishing group recently released its consumer survey of the luxury market in China, the top ranking wasn't held by a brand like Chanel, Louis Vuitton or Hermes. Instead, Apple was named this year's preferred brand for gifting among China's richest men and women.
The designation is not just a testament to Apple's awe-inspiring growth, which was illustrated quite profoundly by this week's not-so-outlandish investor claims that the company is worth close to $1.3 trillion. It's also a sign of the shift from luxury as status symbol to luxury as cultural code .
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