Baccarat has seen immense growth in recent years. What has contributed to the brand’s overall success?
Baccarat is a globally recognized brand that has been in existence for over 250 years. As a global player in the gifting world, the customer’s mindset was to only use Baccarat for special occasions. For the last five years, the messaging for Baccarat in the U.S. has been to use your Baccarat every day. We asked ourselves, “Why is the home the last place that someone takes care of themselves?” We buy expensive shoes, watches, and handbags, and we replace cell phones regularly, yet we worry about chipping a glass and replacing it? It really doesn’t make sense. There’s nothing better than waking up, feeling the beautiful glass in your hand, and having a smoothie, coffee, or orange juice. You’ve worked hard, so why not start the day off with something you enjoy in your home? In addition to changing the customer’s mindset, we needed to be more accessible, and more diversified. We needed to dust off this beautiful brand. Through collaborations such as Supreme, Lady M Cakes, the Rolling Stones, the YouTube Creator Awards, Woodford Reserve, Pokémon, and [email protected], we’ve attracted a new audience without alienating our current customers. And although we don’t have a certain demographic, we only look for people who enjoy pretty things. For the influencers and celebrities who love our brand, we celebrate their moments with Baccarat across their social media channels. This has only reinforced our messaging as a brand. The strategy is genuine and sincere, and because of this, Baccarat has doubled its business in the last five years. We’ve literally awoken the sleeping beauty!
Can you talk about Baccarat’s mantra, “Everyday Baccarat” and how your customers embrace it?
A big part of Baccarat’s success has been the messaging of #EverydayBaccarat. Baccarat should not only be the first choice for your home, but also when it comes to gifting. To reinforce this messaging, we introduced gifting sets of glasses that help set the table. We first introduced Bubble Box, which came with six different silhouettes of champagne glasses featured within a gift set, and later evolved into gift sets called Wine Therapy, Take a Shot, Chateau Baccarat Degustation, and 4 Elements. Each gift set comes with different silhouettes in the box representing wine glasses, shot glasses, and tumblers. The sets are the perfect gift, and give the consumer the opportunity to experience their favorite silhouette. Outside of the product, we speak it everyday. The messaging now resonates across every channel. From our own boutiques to wholesale, independents, and e-commerce, we only speak of Everyday Baccarat.
What role does corporate gifting play in the scope of Baccarat’s overall business and how is it relevant today?
Baccarat is recognized around the world and known for its superior quality. Home décor has been a long-time favorite for gifting among groups and remains an important part of the business. Corporate gifting is an integral part of the business, especially as high-quality product offerings become more sought after. Many of our clients run their own companies and sometimes opportunities start from within—a client looking for a gift for their employees. Baccarat remains a premier luxury destination for anyone looking to provide not only an elevated gift but an experience. Even so, we have opportunities to continue to grow this area of the business through B2B efforts and by continuing to offer quality products that are unique and coveted.
Why has Baccarat become a premier go-to brand when it comes to gifting?
The quality of Baccarat products is unparalleled, and we are recognized as an industry leader. We are also able to customize packaging and products with any corporate branding and offer a wide range of price points when it comes to our collections, which makes us synonymous with gifting. We also offer engraving on our products, which allows companies to feature their own branding in an elevated way.
What else would you like people to know about Baccarat’s service offerings?
There’s room for Baccarat everywhere, from the boardroom to private dining, to home and throughout gifting. Everything tastes better in Baccarat and we want everyone to experience this. The message of using beautiful things every day often starts at the top—a CEO sharing their beautiful lifestyle at the office with colleagues and other business associates. Our mission is to give everyone the opportunity to experience Baccarat and our goal is to make this achievable through a diverse product offering at varied price points, and if you really want to immerse yourself in the full Baccarat experience, then I recommend a visit to the fivestar Baccarat Hotel in New York City; it is a must.
What sets Baccarat apart from its competitors?
Unwavering craftsmanship. Baccarat has a rich heritage and we stay true to it by continuing to offer only the best products through a diverse assortment of iconic and new collections. Not only is Baccarat timeless, but our products also possess a distinct modernity to them. With over 250 years of pioneering spirit and excellence, Baccarat has upheld an indisputable reputation in the industry as a leader and continues to create desirability among existing and aspirational customers. Again, this is due to the fine craftsmanship of Baccarat products and the message we continue to share and wholeheartedly believe in, which is that everything tastes better in Baccarat and we can use our Baccarat every day to compliment our lives.
How has a 257-year-old company managed to stay relevant today?
By listening to our customers and understanding the market. The business has changed dramatically in recent years. We continue to offer high-quality, iconic products while maintaining an #EverydayBaccarat mentality. Baccarat is meant to complement lives and fit into an everyday lifestyle. The days of taking out your Baccarat for a special occasion are over. We want to enjoy the beautiful things we love in life every day and that’s what we want our customers to experience when they buy our products. We also have varied price points so we can remain accessible to new customers entering the brand. We’ve worked hard to create unique product collaborations that have modernized and taken our offerings to the next level, while maintaining excellence in craftsmanship.
What is your vision for the future of the brand?
We want everyone to share in our passion, by spreading their love for Baccarat —in their homes, at the office, and anywhere else, sharing their stories with others. Our mission is for Baccarat to become synonymous with everyday lifestyle as every day is all we have.