BoF can exclusively reveal that Cartier has tapped Indian actress Deepika Padukone as its newest brand ambassador.
Padukone, who is one of Bollywood’s biggest stars, has been named twice on Time magazine’s annual list of the 100 most influential people in the world. Over the weekend she attended the BoF 500 gala in Paris wearing an Indomptables de Cartier Panther and Zebra necklace — made of yellow gold and black lacquer and set with tsavorite garnet, moonstone and onyx — wrapped around her wrist.
“As an inspiring actress and committed philanthropist, Deepika embodies the Maison’s spirit and values of celebrating creativity, universality and open-mindedness,” Arnaud Carrez, Cartier’s chief marketing officer, said in a statement.
The move signals ambitions for Cartier to broaden its reach among Indian consumers, both domestically and abroad. The size of the the country’s gems and jewellery sector was valued at $79 billion last year, according to the India Brand Equity Foundation, a development trust backed by the Indian government. Meanwhile, the populous country’s aspiring middle class is growing fast.
Cartier is a jewellery behemoth and the star in parent company Richemont’s portfolio. The Swiss group does not break out sales for individual brands, but HSBC analysts estimate that Cartier generated €7.4 billion in revenue in 2021, up 29 percent year-on-year.
Today, as much as 80 percent of global jewellery sales remain unbranded, according to McKinsey — and competition is heating up among brands seeking to capture more of that market. Cartier’s peers are also investing heavily in securing top talent to broaden their reach. Following its acquisition by LVMH, rival Tiffany brought on Beyoncé and Jay-Z in a bid to reposition the brand as more modern and culturally relevant.
Beyond her star power, Cartier said it was drawn to Padukone’s values of philanthropy and female empowerment. In addition to acting and producing, Padukone is the founder of the Live Love Laugh Foundation, an organisation that has sought to raise awareness of and destigmatise mental health issues in India since 2015.
