It’s meant to bring riches and power befitting an emperor, but if Western luxury brands have their way the Year of the Dragon will cost their wealthy Chinese customers a fortune instead.

Monday is the start of the Year of the Dragon, the most favourable and revered sign in the 12-year Chinese zodiac.

The dragon is a traditional Chinese symbol of royalty, fortune and power, and the Year of the Dragon usually sees a spike in marriages and births.

Western manufacturers of luxury goods, from cars to watches and chocolates, are hoping the new year also brings a spike in sales to help offset soft demand in Europe and the United States.

“The dragon means good fortune, power and success,” says Torsten Muller-Otvos, chief executive at Rolls-Royce Motor Cars, the German-owned automaker which has launched a line of limited edition “Dragon” Phantoms.

The edition, available in two models, features hand-painted golden dragons on the side panels, hand-embroidered dragons on the leather headrests and illuminated door treadplates with the words “Year of the Dragon 2012″.

The car, which starts at 7.4 million yuan (US$1.2 million) in China, was sold out within eight weeks of its launch in August, and the firm says it is now looking at extending production.

China overtook the United States to become Rolls-Royce’s largest market in 2011, with the Chinese market accounting for about one-third of its record 3,538 cars sold worldwide.

“We will make 2012 the next record year for Rolls-Royce, the dragon will help us to make that happen,” Muller-Otvos told AFP on a recent trip to Hong Kong.

China is the world’s fastest-growing market for luxury products thanks to years of stellar economic growth which has created a new class of super-rich consumers that are changing the face of Asia.

Forbes magazine said China had a total of 146 billionaires last year — up 14 percent from 2010, and second only to the United States with 413.