The jewelry sector is undergoing a small revolution. Even on the side of the historic luxury houses, we are in the process of adapting to the new situation. Namely to a market that is now more varied, younger, more focused on unisex, jewelry for men or women's pieces that are purchased directly by their future owner. On the side of Tiffany's, we therefore enlisted Jay-Z and Beyoncé in order to reach new segments.
Beyoncé and Jay-Z campaign for Tiffany's
Beyoncé became the first woman of color to wear the famous Tiffany yellow diamond. This is the jewelry company's latest move to appeal to a younger and more diverse audience.
The singer sports the 128.54-carat "priceless" gemstone alongside husband Jay-Z in a new ad campaign for Tiffany & Co. Beyoncé is the fourth woman and the first woman of color to wear this diamond in over a century.
The advertising campaign will last for one year. It includes a short film in which Beyoncé sings Moon River, a nod to Audrey Hepburn in the hit 1961 film Breakfast at Tiffany's.
Beyoncé is following in the footsteps of Audrey Hepburn and Lady Gaga wearing the famous piece of jewelry.The stone was acquired by Charles Tiffany after being discovered in South Africa in 1877. Lady Gaga was the third woman to wear the stone at the 2019 Oscars. Gal Gadot will wear it next, in the film Death on The Nile, the filming of which has experienced major delays, and which should be released next year.
The new campaign also rented digital billboards in New York's Times Square, reports Women's Wear Daily. Some campaign photos also show the Carters posing in front of Equals Pi by Jean-Michel Basquiat, a 1982 artwork rarely seen in public, according to Tiffany.
Tiffany's is reinventing itself to adapt to men's jewelry and millennials
The advertising campaigns are part of an overall campaign by the new owners of Tiffany, the French super conglomerate LVMH (which owns Louis Vuitton, as well as Rihanna's Fenty line), to modernize its image so attract a younger clientele.
According to McKinsey & Company, millennials and Gen Z are now the highest spending segments in the fashion and luxury industries. Generation Z is the most "likely to pay a little more for products made by companies that share their values", according to Anita Balchandani, McKinsey's leader in apparel, fashion and luxury .
Tiffany's men's engagement rings
Current Beyoncé and Jay-Z ads have run like traditional Tiffany's campaigns. But the first turn of the company's branding shift came in May when it launched its first-ever men's engagement rings. The company called its rings "a bold, modern twist on the traditional wedding band".
To explain this initiative on the front of men's rings, we could have cited the increasing number of weddings expected this year. It is estimated that 2021 could be the year in which the most marriages are registered, due to the postponements caused by the coronavirus. But it is also and above all a response to the increasing popularity of men's jewelry. This trend is fueled by Gen Z symbols of gender neutrality such as Harry Styles, Lil Nas X and Connell from the BBC series Normal People, including the men's silver chain necklace has its own Instagram page.
Jewellery for young people
A few months later, in July, the jeweler launched an advertising campaign featuring 2 brooding teenagers with sullen looks, accompanied by the slogan "Not Your Mother's Tiffany". mother). Other slogans used included "It's not old school".
These ads, reminiscent of the controversial posters of the original 2008 TV series Gossip Girl, attempt to popularize the brand by associating luxury jewelry (a sterling silver link necklace, which sold at $2,600, and a bracelet worth 1.$575) to the casual style of the models shown.
But the advertisement in mind Ok Boomer caused a little controversy on the web. Including on the brand's own Instagram account, prompting comments like
- The Tiffany brand is getting cheaper and cheaper with this campaign
- Tiffany, that was classy…Now they seem to be getting lost
The formula of pitting generations against each other is straight out of the tactics used by the denim industry, whose age-dividing skinny VS baggy model debate has been the subject of much ramdam on TikTok.
Over the summer, the founder of luxury marketing company La Vita E Bella told The Business of Fashion: “ One of the challenges for these historic brands is, when they try to rejuvenate by becoming cooler, not to erode their historical clientele too much… It's a balancing act that takes time, you can't become cool overnight. »