For now that is, before everyone starts buying Chanel. The brand has the highest brand awareness among wealthy Chinese ahead of other brands like Hermes, Dior, Gucci and Louis Vuitton. It is also the most purchased luxury brand  by rich Chinese according to a study by Bomoda.

The report says that 41% of affluent Chinese bought Chanel products frequently, compared to 32% for Dior.

According to Brian Buchwald of Bomoda, Chanel's appeal is strong because they've invested very seriously in advertising and retail.

It also lures customers using websites with strong social media and leverage Chinese and Western celebrities who are well known to the Chinese.

Because Chanel is very expensive, it is understood to be the ultimate status symbol, and status is all about displaying just how much wealth you have.

Will the Chinese continue to love Chanel, or will it one day be a brand for secretaries, just like how Louis Vuitton did?