RAPAPORT... Conspicuous consumption is out and conscious consuming is in. Giving something back is a big incentive to consumers. Some people still want to spend money, but they want to do so in a way that does not harken back to the recent era of shop-’til-you-drop greed. Shopping is becoming a new road to philanthropy; just take a look at what some groups are doing.
The World Gold Council (WGC) recently held its Leaves of Change program in which celebrities designed a piece of jewelry with a leaf motif. The WGC paired the 12 participating celebs with a jewelry designer who then manufactured three pieces in yellow gold. One piece was given to the celebrity. The second piece was auctioned off to raise money for the celeb’s charity of choice during a live and online auction, facilitated by Sotheby’s Gary Schuler, at the Chelsea Art Museum in New York City. The third piece will be part of an exhibition touring Jared the Galleria of Jewelry stores in 16 cities around the country to raise awareness of both the various charities and gold.
Ralph Destino, chairman emeritus of Gemological Institute of America (GIA), chairman emeritus Cartier and a director of Van Cleef & Arpels, recently noted at a press event launching his new venture Legacy Group, LLC, a for-profit charity, “We know about the recession, but we’ve chosen not to participate.”
Instead, the Legacy Group, for which Destino serves as chairman, has signed on Kick Kennedy, Consuelo Vanderbilt Costin and Sara Delano Roosevelt to lend their names and likenesses to brand and market specially manufactured goods to support charitable causes of their choice. The Legacy Group will form licensing agreements with manufacturers of consumer products and will then work with them on product development, as well as marketing strategies, to highlight the high-profile brand image and philanthropic benefits associated with the purchase of the product.
In the May 2009 issue of InStyle magazine, powerhouse jewelry designer Judith Ripka invited readers to shop for a cause. A gatefold ad offered consumers a $1,000 gift certificate toward the purchase of a piece from the Judith Ripka 18-karat gold Couture Collection or $100 toward a piece from the Judith Ripka Silver Collection. Ten percent of the net proceeds from each purchase goes to benefit Dress for Success Worldwide, a not-for-profit organization that helps disadvantaged women achieve economic independence by providing professional attire and career development support.
Supporting a charitable cause not only makes everyone feel good, but it’s good business, too — becoming a promotional tool that creates awareness for a favorite charity and for your business, all at the same time.
Amber Michelle
Editor-in-Chief
Article from the Rapaport Magazine - June 2009. To subscribe click here.