Editor’s Note
This analysis examines the tangible impact of celebrity-driven marketing on Richemont’s financial performance, questioning whether high-profile visibility directly translates to commercial success.
[KtN Reporter Park Chae-bin] There is one element that is consistently mentioned when explaining Richemont’s recent quarterly performance: celebrities. Red carpets at award ceremonies, global events, and high-profile instances of product placement are repeatedly cited. Some have evaluated this as “strengthening cultural dominance,” while others interpret it as “evidence of recovering brand heat.” However, whether celebrity exposure is directly linked to actual sales is another matter.
In the luxury industry, celebrity marketing is an old tool. It is neither new nor unfamiliar. However, its nature has been changing recently. In the past, its primary role was to broaden brand awareness, but now it is mobilized as part of the logic to persuade purchases. As prices rise, consumers demand reasons. Celebrities are used as a device to supplement those reasons.
The buzz surrounding Richemont’s jewelry and watches this quarter is understood in the same context. Jewelry and watches, centered around Cartier, were repeatedly exposed at award ceremonies. Watches and jewelry worn by male actors received more attention than before. The intention to expand the men’s high jewelry market was also clear.