The Gucci fashion label is the most coveted designer brand in the world, according to a survey by market research firm The Nielsen Company.

One in five consumers said that they would buy Gucci products if money weren't an issue, according to a survey of 25,000 online consumers in more than 48 countries that was conducted by The Nielsen Company.

In a similar survey published two years ago, Gucci shared the No 1 spot with Italian fashion label Giorgio Armani, which has since slipped to the No 4 in the current global survey, Nielsen said.

"In the past two years, Gucci has managed to maintain and even increase its brand equity in a very competitive and fickle industry," said Patrick Dodd, Nielsen's President of Europe in a statement. "They have achieved this by consistently embedding their core brand values in all their branded products, which range from perfume and sunglasses to accessories, jewelry, handbags and ready-to-wear."

Gucci, which is owned by French retail company PPR SA, was turned around in the mid-1990s by former executives Tom Ford and Domenico De Sole, who made its bamboo-handled bags, horse-bit motifs and double-G logos trendy and profitable.

Some of the strongest responses came from India and the United Arab Emirates, where 41 percent and 37 percent of consumers, respectively, said they would choose Gucci over 24 other labels from their own country.

Consumers in North America were the least interested in luxury brands, with 35 percent saying they would not buy any luxury brands even if money were no object.