Waterford, known for its luxury crystal ware and centuries-old Irish roots, is trying to get the attention of younger generations by emphasizing experiences and positioning its goods for more practical uses, ranging from crystal drinking cups to a giant crystal nutcracker. The rebranding of the more than 200-year-old brand includes a pop-up store in New York’s SoHo neighborhood that will open on Oct. 24 and run through the end of the year.
The pivot comes as luxury brands must find new ways to reach millennial and Gen Z consumers. Younger consumers are more likely to splurge on holidays and other experiences rather than extravagant products to fill a china cabinet, said Thomaï Serdari, professor of marketing at NYU Stern and director of the university’s fashion and luxury MBA program. But brands such as Waterford could benefit from a renewed interest in home decor, after pandemic quarantines prompted consumers to think more about decorating personal spaces, she said.
“Waterford is known as our grandmother’s brand,” said Serdari. “I think they are right at that point where they’re trying to make the shift and pivot to something that’s more resonant with (younger consumers).”
Waterford is focusing on experiences by opening the store, said its Creative Director Alice Bastin, who was hired in March after a career in luxury fashion design. The store “has elements of our past and our heritage but hopefully will be presented in this more modern and engaging way,” said Bastin. “I’m hoping that that builds intrigue for the brand.”