A survey of on-line consumers across the globe has found that the fashion labels Giorgio Armani and Gucci are the world's most coveted brands.

The survey by market research company ACNielsen, which was reported by the news agency Bloomberg today, found that one in three consumers would buy Armani or Gucci products if money weren't an issue.

"Giorgio Armani and Gucci clearly understand that strong brands make for profitable businesses," said Frank Martell, president and chief executive officer of ACNielsen Europe was quoted by Bloomberg saying. "They are not merely selling fashion, they are selling an image, something consumers are willing to pay a premium for."

Italian brands made it a one-two-three, with Versace coming in at number three in the ACNielsen rankings. Some 27% said they would buy Versace products if money weren't an issue.

ACNielsen questioned 21,000 consumers in 42 countries from Europe, Asia-Pacific, the United Arab Emirates and North and Latin America.