SOURCE: Luxury Instiute

July 17, 2007 11:00 ET

Luxury Institute Survey: Wealthy Consumers Turn to Tiffany & Co. for Made-to-Order Luxury Goods; Lexus and Rolex Rank High Among the Wealthy

NEW YORK, NY--(Marketwire - July 17, 2007) - The Luxury Institute asked Americans, with an average household income of $307,000 and average net worth of $3.1 million, their opinions on made-to-order, one-of-a-kind, and made-to-measure luxury goods. Among 100-plus brands mentioned by the wealthy across multiple categories, Tiffany & Co. is the most popular.

Six percent of the wealthy have purchased made-to-order items from the New York City-based jeweler. Meanwhile, luxury automaker Lexus leads carmakers, receiving a mention by name from three percent of the wealthy. Two percent of the wealthy say that they have bought a made-to-order Rolex watch. Other brands mentioned frequently by name were: Armani, BMW, Brooks Brothers, Cartier, Coach, Gucci, Mercedes-Benz, and Ralph Lauren.

More than one in four (27 percent) of wealthy Americans say that they buy their cars made-to-order, making it the fifth most popular made-to-order luxury category, behind home furnishings (57 percent), jewelry (56 percent), homes (42 percent), men's dress shirts (40 percent), and men's suits (38 percent).

Forty-two percent of wealthy men and women have purchased made-to-order products, but those with higher incomes and levels of wealth are more inclined to indulge. Fifty-three percent of millionaires worth more than $5 million, and 51 percent of those earning more than $500,000, buy one-of-a-kind items -- compared to about one-third of those with incomes less than $200,000 and net worth less than $1 million.

Jewelry is the most popular made-to-order luxury category for gifts. But women buy made-to-order jewelry for personal use twice as frequently as they do for a gift. Men, however, more frequently (38 percent - 29 percent) buy jewelry as a gift. Glassware and wine are the next two most popular made-to-order gift items. Handbags, formal gowns and men's dress shirts are also popular gifts.

More good news for Tiffany: 90 percent of the wealthy say that they would recommend the brand of their made-to-order products to people close to them; 87 percent say that they would buy the brand again.

In addition to fully vetted, private peer-to-peer networking for luxury firm executives and entrepreneurs, complete survey data and additional insights from the voice of the wealthy consumer are available to professional members of the Luxury Board for an annual fee of $995.00. For more information, visit, www.luxuryboard.com.

About the Luxury Institute

The Luxury Institute is the uniquely independent and impartial ratings and research institution that is the trusted and respected voice of the high net worth consumer. The Institute provides a portfolio of proprietary publications and research that guides and educates high net-worth individuals and the companies that cater to them on leading edge trends, high net worth consumer rankings and ratings of luxury brands, and best practices. The Luxury Institute also operates the Luxury Board (www.luxuryboard.com) , the world's first global, membership-based online community for luxury goods and services executives, professionals and entrepreneurs To reach the Luxury Institute, please call 646-792-2669 or go to www.luxuryinstitute.com.

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