Arnaud Carrez, Cartier’s chief marketing officer, said in a statement, - "As an inspiring actress and committed philanthropist, Deepika embodies Maison’s spirit and values of celebrating creativity, universality and open-mindedness." Cartier is a jewelry behemoth and the star in parent company Richemont’s portfolio.
The move signals ambitions for Cartier to broaden its reach among Indian consumers, both domestically and abroad. The size of the country’s gems and jewelry sector was valued at $79 billion last year, according to the India Brand Equity Foundation, a development trust backed by the Indian government. Meanwhile, the populous country’s aspiring middle class is growing fast.
Today, as much as 80% of global jewelry sales remain unbranded, according to McKinsey- competition is heating up among brands seeking to capture more of that market. Cartier’s peers are also investing heavily in securing top talent to broaden their reach. Following its acquisition by LVMH, rival Tiffany brought Beyonce and Jay-Z in a bid to reposition the brand as more modern and culturally relevant. Beyond her star power, Cartier said it was drawn to Padukone’s values of philanthropy and female empowerment. In addition to acting and producing, Padukone is the founder of the Live Love Laugh Foundation.
Reference – https: / / www. businessoffashion. com/ Deepika- Cartier' s- newest- ambassador
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