Luxury brands are expanding their patronage of the arts, with watchmakers and fashion houses actively sponsoring cultural institutions and events. This trend is evident in watch brands like Audemars Piguet supporting Art Basel, Breguet backing Frieze, and Vacheron Constantin partnering with the Louvre. These partnerships allow brands to reproduce masterpieces on their products, such as Vacheron Constantin's use of the Winged Victory of Samothrace on watch dials, which has been met with an "exceptional" client response. Such collaborations provide cachet, access to less price-sensitive consumers, and a "halo" effect on their products, making price increases easier to implement and accept.
The involvement of luxury brands also extends to artist development and broader public engagement. Audemars Piguet Contemporary, launched in 2012, supports artists through programs like Studio Audemars Piguet and the Audemars Piguet Art Commission, enabling experimentation with new media and commissioning large-scale works from emerging artists. Similarly, Zenith's collaboration with street artist Felipe Pantone, which included reimagining pieces from its Defy collection and wrapping its headquarters in vibrant colors, attracted younger clients and led to a unique Zenith Defy watch being auctioned at Christie's for $519,000, double its high estimate. These initiatives demonstrate how sponsorships can open opportunities for artists and make new work accessible to a wider audience.
Beyond visual arts, luxury brands are significantly investing in performing arts. Van Cleef & Arpels established the Dance Reflections program in 2020, supporting contemporary dance creation and presenting festivals in major cities globally. Chanel launched the Chanel Next Prize in 2021, awarding 100,000 euros every two years to creatives, including choreographers. These investments are crucial as dance faces financial pressures, with brands filling funding gaps left by dwindling government support in countries like the US and Europe. This patronage not only provides financial sustenance but also facilitates cultural diplomacy, allowing for greater international collaboration and innovation in the arts, as highlighted by New York Live Arts' partnership with Van Cleef & Arpels, which helped bring international artists to its theater. While cynics may view this as a tax incentive play, the direct cash flow and "hands-off" approach to artistic development are significantly beneficial for artists and cultural institutions.
However, brands emphasize that the quality of the luxury product remains paramount. Ricardo Guadalupe, Hublot's chief executive, states that while collaborations with artists like Takashi Murakami elevate watches to "wearable pieces of art," the "watch is always key." He stresses that "if the product is not good, it will not sell." This indicates that while artistic partnerships enhance brand perception and reach, they are built upon a foundation of intrinsic product excellence. The trend reflects a broader convergence between luxury goods and art, transcending traditional craftsmanship towards broader meanings, as identified by consultancy Bain, yet the core function and quality of the luxury item itself remain critical.
