Behind Waterford’s new marketing moves to attract younger consumers and modernize its image

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.” Ad Age Next: CMO Get your tickets for the Dec. 7 event in New York Register here The brand, founded in the Irish city of Waterford in 1783, started as a glass factory created by brothers William and George Penrose. The company, after suffering financial difficulties and changing hands a number of times, was acquired by Finnish corporation Fiskars Group in 2015. Fiskars’ net sales rose 9.7% to 126.8 million euros from April to June, an increase that Fiskars characterized as being “driven by” four of its brands including Waterford, according to the company’s half-year financial statement. Inside the New York shop, there will be pictures of Ireland along with a display including a poem written by Bastin’s great-great-grandfather, a poet who was born in Waterford. “The pull of Waterford is nostalgia of past generations,” said Bastin. The window display will consist of a rock formation that is more “abstract and bold,” said Bastin. The storefront features large posters of models of different ages holding crystalware in active poses, from drinking out of glasses to brandishing it as if “it was a trophy,” said Bastin. Posters of the same images will also be put up around New York to try and draw visitors to the store. Serdari characterized the emphasis on practical use as a move to make crystal “less scary” to use. “They try to position it as an indulgence, but an indulgence you can enjoy every single day,” she said. For its campaign, Waterford will post on Instagram and experiment with some posts on TikTok as well, according to Bastin. Waterford’s future products will be more graphic and abstract, said Bastin. While “we’ve always been heavily associated with drinking and alcohol,” the brand wants its products to be used for a wider variety of activities, said Bastin. This could range from drinking orange juice to potting succulent plants, she said. Some of the brand’s competitors are making similar moves to modernize. French luxury crystal brand Baccarat began positioning itself as a lifestyle brand in 2015, opening a flagship hotel in New York and has also partnered with TV personality Kris Jenner to create limited-edition martini glasses. Jewelry and crystal decoration company Swarovski announced changes in February last year under a new global creative director. These alterations included modifying its Swan logo and opening over 20 new stores that it described as “sensorial retail space(s),” according to Design Week. ~ ~ ~CORRECTION: A previous version of the story incorrectly stated the opening date of Waterford's pop-up store.

Behind Waterford’s new marketing moves to attract younger consumers and modernize its image

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