Each year, global jewelry brands like Tiffany & Co., Van Cleef & Arpels, and Cartier invest heavily in showcasing their pieces on A-list celebrities at major red carpet events such as the Met Gala, Oscars, BAFTA, and Grammys. What makes these events so crucial for publicity? Shilpa Dhamija investigates.
Chopard has partnered with the Cannes International Film Festival for over 25 years, continuously increasing its spending and brand activations. The Swiss jewelry brand not only adorns high-profile attendees but also uses the 10-day event to launch new jewelry and couture collections.
Why are red carpet events so important for luxury brands? Do they truly offer a good return on investment?
In today’s digital age, visibility on social media is vital for luxury brands. These brands thrive on exclusivity and must carefully navigate the crowded social media landscape to reach the right audience. Collaborations with influential tastemakers at exclusive events help maintain their elite image.
At this year’s Cannes Film Festival, jewelry dominated the Earned Media Value (EMV) on social media across all fashion verticals, according to Paris-based agency Lefty. EMV measures the advertising value of social media impressions. Chopard led with $37.5 million in EMV on Instagram, up from $28.5 million last year.
Bulgari followed with $13.3 million in EMV, and Boucheron with $9.3 million.
Chopard’s social media success was largely driven by American model Bella Hadid, who has 61.2 million Instagram followers. Last year, nearly 40% of Chopard’s EMV came from footballer Cristiano Ronaldo’s girlfriend Georgina and Indian actress Anushka Sharma.
Indians Move Up In Global KOL Ranking
As India becomes a significant market for luxury brands, Indian Key Opinion Leaders (KOLs) are gaining traction at global events.
Last year, Anushka Sharma was the second most influential celebrity at the Cannes Film Festival, wearing Chopard jewels. South Korean pop star Jennie Kim of Blackpink took the top spot.
At this year’s Met Gala, Alia Bhatt outshone celebrities like Kim Kardashian and Jennifer Lopez, ranking as the fourth most influential with $7.7 million in EMV. Bhatt wore jewelry by Sabyasachi Mukherjee, boosting the brand to become the 12th most influential luxury brand at the event, just behind Cartier.
It’s Not All Paid Media
Yael Fraynd, founder of YaYa Publicity in Los Angeles, has secured placements for independent jewelry brands at events like the Oscars, Emmys, and Golden Globes. Despite a shift towards paid contracts, smaller brands still have opportunities.
“Often, it’s about the perfect diamond, the right look, and a good relationship with celebrity stylists,” says Fraynd. “Stylists with paid deals might still choose non-paying brands if they offer the right piece.” She emphasizes the importance of a strong brand identity and unique designs for smaller brands to compete.
Using Red Carpet Events as Exclusive Experiences for Top Clients
Red carpet events are glamorous affairs featuring celebrities, luxury brands, and an atmosphere that appeals to luxury connoisseurs. Brands often invite top customers to these events as a reward for their loyalty, allowing them to experience the glamour and network with influential figures.