In the past, marketing channels were limited, with companies relying on TV, newspapers, and word of mouth as their primary strategies. However, the digital age has revolutionized how businesses showcase their products to the world. In this article, we will break down the marketing strategies of some of the big players in the jewellery and watch game.
Watch Brands
Rolex
No conversation about luxury watches happens without mentioning Rolex. Historically, Rolex has engaged in grand gestures, such as flying over Mount Everest and placing watches in fish tanks. However, the brand has evolved over time, now exuding an air of mystique. Their status as a charitable foundation means they are not obligated to disclose information, leading to unanswered questions and further intrigue surrounding the brand. In contrast, many other luxury brand are more transparent for example Audemars Piguet former CEO, Francois Bennahmias, maintained a public presence.
Rolex maintains this mysterious approach when it comes to marketing, favouring simple advertising campaigns which focus on the craftmanship of their watches. They seem to embody the sentiment of the old adage “Good product’s sell themselves”. The desire for their watches is less as a result of marketing but more so due to their exclusivity, status as a social trophy and their proven investment value.
Rolex do not completely neglect marketing but they take a more understated approach. They frequently sponsor events attended by the upper echelon of society, such as the Oscars and tennis tournaments, strategically positioning themselves where their ideal customers are likely to be found. Another noteworthy strategy is their celebrity endorsements. Historically, Rolex has been closely associated with presidential figures like Winston Churchill and John F. Kennedy so much so that their Day Date models are nicknamed “the presidents watch”. In recent times, their celebrity partnerships have included the likes of Roger Federer and Tiger Woods two men who epitomize talent within their respective fields. Federer, in particular, has become synonymous with the brand, forming what appears to be a match made in heaven.
Audemars Piguet
However, Rolex is not the only brand that leverages celebrity partnerships. Take Audemars Piguet, for instance. AP takes it a step further by not just aligning themselves with celebrities, but by creating watches
with these stars. Throughout the early 2000s, they collaborated with numerous famous figures to design watches, including Arnold Schwarzenegger, Jay Z, Shaquille O’Neal, and others. More recently, they have partnered with Travis Scott and John Mayer. Rolex, on the other hand, seems to focus their celebrity endorsements on a specific type of individual, typically distinguished gentlemen with a clean, flawless public image. AP, in contrast, embraces a more diverse range of celebrities from various fields, including basketball, sports, and music. However, this strategy comes with risks. For example, the recent news about Diddy (Sean Combs) has led to a decline in Ciroc’s sales, with many people boycotting the brand.
AP doesn’t limit themselves to celebrity endorsements; they also collaborate with other powerhouses in various fields. Recently, they partnered with Marvel and launched limited edition Spider-Man and Black Panther watches. These releases have not been without their criticisms but you know what they say any publicity is good publicity.
Patek Phillipe
Patek Philippe takes a different approach altogether and has never pursued celebrity partnerships. Instead, they prioritize keeping their watches in the spotlight. Their ad campaigns revolve around the brand’s slogan, “You never really own a Patek Philippe. You merely look after it for the next generation”. This not only emphasizes the beauty and timelessness of their watches but also taps into the emotions of potential buyers. It highlights the idea that owning a Patek is more than just having a watch—it’s a family heirloom.
Jewellery Houses
Tiffany and Co
Tiffany & Co. stands as one of the largest jewellery brands globally, exemplifying a company that evolves with the times Tiffany and Co are one of the biggest jewellery brands in the world. Embracing the digital age, Tiffany have found their voice with a big push on digital marketing amassing over 16 million Instagram followers. Not only that, Tiffany have used digital channels to market their products and improve the overall customer experience. An example of this is the Tiffany and Co engagement ring finder which allows customers to try on a ring virtually.
In addition, Tiffany have always infused personality into their brand. Even as far back as 1972, they would release ad campaigns that had an touch of humour to them. They actively engage with their audience through giveaways and contests. Combining this with the personable nature of the brand it has allowed them to foster a sense of community. Many brands tend to overcomplicate marketing, but simply sparking conversations can often yield the desired results.
Tiffany are no stranger to influencer marketing. You don’t have to look further than their Instagram page where you will find hundreds of celebrities working with the brand. And we can’t forget the iconic Tiffany yellow diamond which has graced the necks of Beyonce Knowles Carter and Lady Gaga, the only two women to wear it in the modern era.
When it comes to jewellery brands and marketing, Tiffany & Co have mastered the art.
Independent Jewellers
Jacob & Co.
Jacob & Co. has transcended the realm of independent jewellers, ranking 33rd among the top luxury watch brands in 2023 with an estimated turnover of 146 million CHF. However, it’s the brand’s marketing strategy in its early and formative years that has propelled it into the powerhouse it is today. In addition to offering exciting and innovative products, Jacob & Co.’s focus on people-centred marketing has been instrumental in its success.
Jacob Arabo, known as the father of hip-hop jewellery, was an early adopter of influencer marketing as one of his key strategies. His association with Biggie Smalls earned him the nickname “Jacob the Jeweller” and mentions in numerous rap songs. However, it was his collaboration with Pharrell Williams that truly showcased his creative genius through jewellery. Many celebs would see the pieces he would make and ask him to recreate them which helped him to build a clientele of A List Stars.
What set Jacob apart from his peers at the time was his prominent public presence. While other jewellers, like Tito, were also creating pieces for the hip-hop scene, they opted for a faceless approach. Jacob’s visibility created a level of familiarity which elevated him to a different level. Leveraging his personal brand was an important marketing strategy, it has allowed him to become one of the biggest celebrity jewellers in the world.
Icebox and Johnny Dang
Today, we witness many other jewellers adopting Jacob’s strategy of influencer marketing, with Icebox being a notable example. Icebox relies heavily on their social media channels, boasting over 2.5 million YouTube subscribers and just under 5 million Instagram followers. Their exponential growth can be attributed to both celebrity clientele and artists who promote the brand through their lyrics. Johnny Dang has also embraced a similar approach, amassing just under 1 million YouTube subscribers. It’s evident that influencer marketing is a successful strategy.
However, the pandemic has given rise to a multitude of influencers and social media celebrities, resulting in oversaturation of the influencer marketing landscape. While this strategy still holds merit, it will be interesting to see how these businesses adapt to the evolving era.