The name Cartier is eponymous with luxury and pedigree – were the family’s early beginnings any different?
Actually, the first generation was very much the working class and its leaders didn’t even have the money to go school. Part of any brand building is always about funds and the Cartier founder didn’t have the funds to grow significantly. The next generation came along and managed to keep the firm afloat in difficult times. France by then was going through the Franco-Prussian war that of course impacted Paris. It was not the best time to run a jewellery business. By the time the third generation came along, they were well known in Paris, and had a good base.
When did the business pivot happen?
In the Cartiers’ case, a few strategic marriages to the next generation of founders brought in funds to the family. The first and second generation had only one member each but the third generation had three members and that was fundamental to success. This is because they all shared the same ideology of the brand and because they all carved out the business in neat divisions. What worked for Cartier was that it was truly expanding across borders and had stores in New York City, London and Paris run by three brothers who had the same values. Therefore, Cartier was the same in all those three places. This was by 1910.
Your single most important advice for anyone building a luxury brand in reference to your own knowledge through research conducted on Cartier.
I don’t think there can be one rule for any luxury company today but for Cartier, they knew what their values were all about. It was primarily the best is good enough, constantly innovate, and employ kindness at every level of business. I think it’s the stories behind the pieces and the history that add extra meaning. Can a luxury brand only be built over time today? I can’t speak for modern day brands but for the Cartiers, it certainly took several generations to build trust and its global reputation.
What in your view makes a jewellery brand truly exclusive?
My research highlighted three main elements – the creativity, craftsmanship and the business side. At Cartier, there was an absolute focus on the motto “never copy, only create.” So, the company had to always innovate and the other part was focusing on the highest quality of craftsmanship. Craftsmen were kept at apprentice-levels for six or seven years. Others were made to sketch for as long as three years, before they worked on jewellery. There was a huge amount of training in the background that was happening which customers may not have known about.
Was there any hesitation to going downmarket in tough situations?
By Cartier’s third generation of management, they actually entered the five-dollar department inventory business and didn’t hesitate to sell silver spoons or champagne servers instead of sticking to the classic opulent diamond crusted pieces. Of course, those spoons would still be created by the best in the company with the best materials. The point was that they would do anything to keep clients coming into the door until needed. This was during the great depression of the 1930s.
To read the full story, Subscribe Now at just Rs 249 a month
Already a subscriber? Log in
Subscribe To BS Premium
₹249
Renews automatically
₹1699₹1999
Opt for auto renewal and save Rs. 300 Renews automatically
₹1999
What you get on BS Premium?
- Unlock 30+ premium stories daily hand-picked by our editors, across devices on browser and app.
- Pick your 5 favourite companies, get a daily email with all news updates on them.
- Full access to our intuitive epaper - clip, save, share articles from any device; newspaper archives from 2006.
- Preferential invites to Business Standard events.
- Curated newsletters on markets, personal finance, policy & politics, start-ups, technology, and more.
Need More Information - write to us at assist@bsmail.in