Swarovski is already a household name – an iconic legacy brand that needs no introduction. So when a business is in that unique position, where does it go from there?
“When you know you are on to something good, you are having fun doing it,” CEO Alexis Nasard says with a smile. “We have fun opening stores, we have fun with our new campaigns, we have fun dressing up Ariana Grande. It’s a fun business and it’s a privilege for all of us.”
Indeed, Nasard is under no false illusions about the purpose of Swarovski. Instead of shying away from the luxurious element of the brand, in a world plagued with strife, he’s all for embracing a little sparkle.
“I always say to everybody who works with us, we don’t pretend to solve the world’s thorniest problems or to cure diseases or to end poverty,” he admits.
“But we are able to give a little bit of joy to our customers through the beautiful products that we make and the memorable experiences that they hopefully get in our stores.”
Building upon heritage
This year, as the brand celebrates 130 years since its inception in Austria in 1895, the jewelry and accessories designer is emphasizing the power of beauty and happiness while honoring Swarovski’s incredible heritage.
“The anniversary is very much our attempt and desire to go back to the past, to rediscover and recommunicate it in our activities under our brand essence of joyful extravagance – hence, 130 years of joy,” Nasard explains.
“It’s an opportunity for us to delve into what made the brand successful in the first place. Building an enduring brand is often an ongoing delicate balancing act between the past, present and the future. Reaffirming familiar codes while maintaining emotional and cultural dynamism. Being consistent yet surprising.”
“We are unapologetically modern.”
Always looking to evolve and expand its offering, as well as reach additional markets, Swarovski has been continuing to explore alternative product options.
“For a very long time, Swarovski has had a symbiosis with crystal,” Nasard says. “Crystal was us, and we were crystal. But in the end, over the years we’ve concluded that we are more than crystals. We are a brand point of view on society, on individual expression.
“The company’s strategy is very much engrained in crystals, but is not limited to that. We believe that the radiation of our joyful, extravagant positioning can manifest itself through different typology of products such as plated metals, solid gold, sterling silver, zirconia, diamonds and more.”
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It makes sense then that a fresh avenue for Swarovski has been the inclusion of lab-grown diamonds into its portfolio – a seamless and logical addition to the brand.
“Lab-grown diamonds are a natural foray of our company into fine jewelry,” Nasard says. “Our customers expect it from us and we believe it is completely coherent with the brand’s positioning and strategy. We’re still early in the journey, but so far today in stores that carry created diamonds, our sales are up to 15 percent of total jewelry.
“We think it’s good for the customer because these products offer superb value for money versus the mined alternatives, and are better for the planet because they are a lot more sustainable in every aspect.”
Crystal-clear identity
Having welcomed in his third year as CEO of Swarovski, Nasard reflects on some of his proudest achievements to date.
“The decision to move to ‘pop luxury’ was one of the most defining features of my administration,” he recalls. “We did a deep analysis of which tenets are non-negotiable.
“The first element is heritage, the second is quality, third is creativity – being cool, being inspiring, being different, providing an alternative – and the fourth is craftsmanship.
“These are fundamental to any luxury business. And we have them and nurture them, but also add to that other characteristics, which make our approach to luxury somewhat idiosyncratic. Hence calling it ‘pop luxury.’”
With major partners staunchly by its side, and collaborations and ambassadorships attracting the biggest names in pop culture, it’s clear that Swarovski is a brand that others can only hope to align themselves with.
“We are unapologetically modern,” Nasard notes. “We’re never a dusty brand. When you look at Swarovski, you see colors, you see glitz, you see pop stars, you see stagecraft, you see fashion, you see the Met Gala, you see Ariana Grande. We’re never old-fashioned; we’re vibrant and always in the zeitgeist.”
“We appreciate our customers’ business, we respect them as individuals and we feel privileged to transact with them.”
Adding to its faultless global reputation is another element that Nasard believes sets the company apart from competitors, especially within the luxury market: its ‘human touch’.
“Nobody who enters a Swarovski store feels treated in a haughty way,” he explains. “We don’t make people wait in line under the rain to enter our stores. We don’t make them feel that we’re doing them a favor by giving them a certain product.
“We appreciate our customers’ business, we respect them as individuals and we feel privileged to transact with them.”
With a product portfolio spanning an immense range of products and prices, Nasard says Swarovski prides itself on being able to provide something for any type of customer.
“We have a very broad price palette,” he points out. “You have very few brands that sell within one store products that range between €100 to €250,000 [US$118 to US$294,000]. So in effect, if you are in the middle class upward, there’s always something that will fit your occasion.
“That so far has been vindicated not only by our general business results, but importantly, also by our value for money perception.”
A moral duty
Embedded in the ethos and brand identity of Swarovski is a deep-seated drive to operate in a sustainable and ethical manner.
“For us, sustainability is a moral duty toward the planet and our stakeholders,” Nasard reeveaels. “We owe it to the communities and the ecosystem in which we live.
“Sustainability can also be very good for business. Why? Because first, customers value it, so it’s good for the brand. Second, many of our recycled products actually are more efficient. And third, because of our sustainability credentials, many suppliers and customers find it a lot easier and morally acceptable to do business with us.”
“You cannot be a creative business if you’re not diverse.”
More than simply lip service, Swarovski’s prioritization of diversity is apparent in a multitude of ways. With more than 40 percent of women occupying senior leadership positions, Nasard is quick to concede that while it is not perfect, the company is deeply committed to continuing to improve in this domain.
“Diversity is about justice. Are you giving equal opportunities to everybody?’ he says.
“There’s something that is fundamentally humane in that, but equally importantly, you cannot be a creative business if you’re not diverse, because only when you have diversity of thinking do you truly have a rich array of creativity, which for us is our lifeblood.”
