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To attract younger customers, luxury fashion companies have started to implement K-pop stars as brand ambassadors, which also includes Rosé, Lisa, and Jisoo of BLACKPINK. On September 29, 2023, the three band members of BLACKPINK were ranked by an Influencer Marketing and Analytics website as the top three influencers in the fine-jewellery sector globally.
Based on high-end jewelry sector trends and analysis along with the algorithms developed by Lefty—an Influencer Marketing and Analytics website—which recognize and attribute content to a brand based on @ mentions and identify top-ranking global influencers in its report, the BLACKPINK members were noted as the top global influencers.
However, it is crucial to note that this research does not analyze Instagram stories, it instead concentrates its analysis solely on the posts that appear in users' in-feeds (Posts, Videos, Carousels). Only the account that started the cooperation is given credit for posts that other accounts contributed to collectively.
Rosé represents the luxury brand Tiffany & Co. as their brand ambassador, while Jisoo and Lisa from BLACKPINK endorse LVMH Dior and Bulgari, respectively.
BLACKPINK Rosé, Jisoo, and Lisa are among the top global influencers who raked in massive profits for jewelry brands
Leading jewelry manufacturers have used the faces of BLACKPINK members to propel EMV (Earned Media Value), which is identical to how fashion has been offered. Cartier certainly raised the standard for brand ambassadorship initiatives, attributing a staggering 57% of their 2022 EMV to the postings of its ambassadors.
What's surprising is their outstanding work with Jisoo of BLACKPINK, who, on her own, produced a staggering 45% of the brand's overall EMV with just 12 high-impact postings and 24 fascinating stories. According to Grand View Research, the jewelry industry is currently valued at just under $270 billion, with an expected 8.5% growth rate that figure could soar to $518 billion by 2030.
Jewelry sales online are expected to increase by 18–21% by 2025 alone, which is why firms looking to enter the digital market have much to forfeit. Foot traffic has grown in stores after COVID-19 shutdown restrictions were removed worldwide, due to which EMV has plateaued somewhat in 2021–2022.
However, Lefty data reveals a time of SNS channel investment in Q1 2023, with EMV escalating by 32% in comparison to the same quarter in 2022. Furthermore, Lisa from the K-pop girl group BLACKPINK became Bulgari's first brand ambassador in 2020. Three years later, with $66.8M EMV generated by Lisa alone in 2022, she is still the brand's biggest exposure driver.
Like Tiffany & Co., Bulgari has focused on a digital approach targeted towards Millennials and Gen-Z, collaborating with Priyanka Chopra, Anne Hathaway, and other well-liked actors on multiple projects. Cartier has effectively penetrated the Gen-Z market by teaming up with well-known personalities like Lily Collins, Jisoo from BLACKPINK, and YouTube star Emma Chamberlain.
With brand ambassadors accounting for more than 50% of Cartier's total EMV in 2022, these alliances have been a key component in raising the company's exposure. Furthermore, in terms of financial gain, Tiffany's plan is obviously effective due to Rosé. The luxury jewelry brand enjoyed a "record year" in 2022, according to LVMH's statement in January 2023.
These massive activations have shown to be an effective strategy for brands to boost engagement and EMV, with several posts on the events of Tiffany & Co., Cartier, and Bulgari ranking among their posts with the highest EMV-generating potential in 2022. This success is probably down to the same "red-carpet effect" that thrills people when they watch celebrities on the red carpet and when they post more often about an activation than normal.
Fans laud the BLACKPINK stars' power to influence the world and bring in huge profits for fine jewelry brands
This impact produces authentic material and an engaging narrative on social media. Because celebrities use their followings to promote visibility, their interactions and content-sharing with one another enable tremendous engagement. These activations are effective and have a significant impact on audiences, as seen by the average of 16% of Tiffany, Cartier, and Bulgari's total 2022 EMV that can be attributable to them.
In the meantime, the creator economy has expanded by 335% over the last five years as the period of influence has continued to soar. Particularly in the fashion sector, it is pervasive and vital. K-Pop celebrities like Rosé, Lisa, and Jisoo dominated the Kardashians in the period of 2022-2023 globally, both in the fashion and jewelry industries. As such, to celebrate the recent feat, BLINKs have taken to social media to lavish praise on the BLACKPINK members.
In Southeast Asia, a highly engaged audience has been produced by the convergence of a quickly changing digital world with enduring cultural traditions. According to Lefty, over 30% of the global distribution of online viewers interacting with content generated by jewelry entities comes from Indonesia, Thailand, India, the Philippines, and Malaysia.
Although Millennials presently account for the majority of luxury market spending, Gen-Z is predicted to overtake Millennials by 2030 and account for 80% of the commercial market, according to a survey by Bain & Co.
In other news, BLACKPINK Lisa has performed for the first time in the legendary burlesque cabaret CRAZY HORSE in Paris for a three-day show from September 28 to 30, 2023.
