ialci law of luxury goods & fashion: what to do when celebrities get it all wrong?
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Crefovi's founding partner and ialci president, Annabelle Gauberti, explains what brands can do to protect themselves from misbehaviour of their brand ambassadors and endorsers. This presentation is part of the law of luxury goods series seminar on how to market through celebrities and music bands - endorsement contracts, product placement and publicity rights.
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ialci law of luxury goods & fashion: what to do when celebrities get it all wrong?
- 1. ialci law of luxury goods & fashion series – 22 July 2014 What to do when celebrities get it all wrong? How brands can protect themselves from ‘damaged reputation’ spillage
- 2. 2 Celebrity endorsement: time-tested tradition with advertisers What to do when celebrities get it all wrong? How brands can protect themselves from ‘damaged reputation’ spillage
- 3. 3 So what’s the big deal? What to do when celebrities get it all wrong? How brands can protect themselves from ‘damaged reputation’ spillage
- 4. 4 Kate Moss’ coke fiend What to do when celebrities get it all wrong? How brands can protect themselves from ‘damaged reputation’ spillage
- 5. 5 Luis Suarez’s biting habit What to do when celebrities get it all wrong? How brands can protect themselves from ‘damaged reputation’ spillage
- 6. 6 Tiger Woods’ womanizing & subsequent messy divorce What to do when celebrities get it all wrong? How brands can protect themselves from ‘damaged reputation’ spillage
- 7. 7 Are luxury & fashion brands really affected by endorsers’ misbehavior? What to do when celebrities get it all wrong? How brands can protect themselves from ‘damaged reputation’ spillage
- 8. 8 Threat of a serious hit on sales volumes! What to do when celebrities get it all wrong? How brands can protect themselves from ‘damaged reputation’ spillage
- 9. 9 Risk especially high in largest luxury-consuming countries What to do when celebrities get it all wrong? How brands can protect themselves from ‘damaged reputation’ spillage
- 10. 10 Other reasons brands may terminate a celebrity endorsement? What to do when celebrities get it all wrong? How brands can protect themselves from ‘damaged reputation’ spillage
- 11. 11 It does not fit the bill, babe! Ambassador’s overexposure by constant appearance & overshadowing of the brand Lack of coherence between the celebrity’s personality & the brand’s value & image What to do when celebrities get it all wrong? How brands can protect themselves from ‘damaged reputation’ spillage
- 12. 12 So what can luxury & fashion brands do to avoid being affected by endorsers’ misbehavior? What to do when celebrities get it all wrong? How brands can protect themselves from ‘damaged reputation’ spillage
- 13. 13 The winning formula for an endorsement deal CELEBRITY ENDORSEMENT DUE DILIGENCE CONTRACT TERMS INSURANC E ONGOING MONITORING TERMINATION RIGHTS PRE-PLANNED “CRISIS MANAGEMENT” MEDIA STRATEGY What to do when celebrities get it all wrong? How brands can protect themselves from ‘damaged reputation’ spillage
- 14. 14 Perform due diligence on proposed endorser •Research whether proposed celebrity has done or said anything in the past that might harm the brand •Detailed, professional, thorough research •Request celebrity to disclose all incidents in the past that could affect the endorsement value •Understand & accept the existing reputation of celebrity What to do when celebrities get it all wrong? How brands can protect themselves from ‘damaged reputation’ spillage
- 15. 15 The importance of getting the right match •Choose celebrity endorsers who align with values represented by brand •Choose celebrity who resonates with 2 audiences: 1. Brand’s core demographic (current customers) 2. Brand’s aspirational demographic (target customers) •Carefully selected celebrity partner + well-structured endorsement deal = massive economic benefits for any company What to do when celebrities get it all wrong? How brands can protect themselves from ‘damaged reputation’ spillage
- 16. 16 Protective & thoughtful contractual terms ENDORSEMENT CONTRACT MORAL S CLAUSE DISCLOSURE NO DEFAMATION NO PUBLIC DISREPUTE NO OFFENCE OF PUBLIC MORALSEXCLUSIVIT Y CLAUSE ‘REVERSE MORALITY ’ CLAUSE GOOD CORPORATE CITIZEN SUSPENSIO N EXTENDED INJURIES SUSPENSION BY GOVERNING BODY ‘MORAL CLAUSE’ EVENTS TERMINATION MISSED SCHEDULED APPEARANCES WEARING COMPETITORS’ PRODUCTS DISPARAGING BRAND CELEBRITY RETIRES/ABSENT MISBEHAVIOR CLAW BACK
- 17. 17 Insure yourself! • Death, disability and disgrace insurance policies • Emergence of several insurance products to address risks exposures • “what-if” scenarios What to do when celebrities get it all wrong? How brands can protect themselves from ‘damaged reputation’ spillage
- 18. 18 Ongoing monitoring (offline & online) • Measure the impact of traditional media and digital media • Monitor the press, social medias, blogs for quotes about endorser • Brand damage mitigation measures Axelle Despiegelaere v L’Oreal What to do when celebrities get it all wrong? How brands can protect themselves from ‘damaged reputation’ spillage
- 19. 19 Pre-planned ‘crisis management’ media strategy • Gain control over how a damaging story is handled • Establish whether or not the allegations are true • Decide whether brand stands by the celebrity or terminate the association Nike v Tiger Woods Nike v Lance Armstrong What to do when celebrities get it all wrong? How brands can protect themselves from ‘damaged reputation’ spillage
- 20. 20 Conclusion What to do when celebrities get it all wrong? How brands can protect themselves from ‘damaged reputation’ spillage
- 21. 21 ialci law of luxury goods series @ Pullman London St Pancras: What to do when celebrities get it all wrong? How brands can protect themselves from ‘damaged reputation’ spillage Annabelle Gauberti Founding partner annabelle.gauberti@crefovi.com @Crefovi on Twitter What to do when celebrities get it all wrong? How brands can protect themselves from ‘damaged reputation’ spillage
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