July 13, 2011
Brands such as watchmaker Movado have been jumping on Derek Jeter’s 3,000th hit as a marketing platform to reach new consumers. In this case, the watchmaker had a hit on its hands.
Movado revealed a special edition watch to mark the event, and a 24-karat gold baseball has been created by Rawling and Gold Sports Collectibles. The watch sold out within hours of launch.
"Derek Jeter is a sports icon and we wanted to give fans of Movado and Derek an opportunity to be a part of his special 3,000 milestone," said Mary Leach, chief marketing officer of Movado Group, Paramus, NJ.
"This is yet another example of Derek’s commitment and resilience," Movado's Ms. Leach said. “What makes Derek so special is his ability to realize his dreams."
Hand it to him
Movado has released the special edition Bold watch to commemorate the baseball player, and brand ambassador's, 3,000th Major League hit.
Mr. Jeter is among 27 other players in history to accomplish this feat, and is the first Yankee to do so.
The Bold bracelet model features a metallic blue watchface, paying tribute to the Yankee colors.
The number 2 is the only number displayed on the dial, emphasizing Mr. Jeter’s jersey number and contribution to baseball.
The back is engraved with the number 3,000 to commemorate the event.
Each watch will arrive to consumers in a unique sleeve with a thank you note from Mr. Jeter.
For every watch sold, $100 will be donated the Derek Jeter Turn 2 Foundation.
The Turn 2 Foundation helps create and support signature programs and activities that motivate young people to turn away from drugs and alcohol.
Movado only made 300 of the watches, which were sold-out by noon on the day they were released.
The watchmaker sent an email blast to shoppers on July 11 informing consumers about the new Bold watch.
The brand also had a full-page advertisement in Monday's New York Times main news section.
In addition, Movado posted a photo of the watch in its Facebook photos, and congratulated Mr. Jeter in a Facebook post.
Time will tell
The watchmaker is not the only brand using Mr. Jeter’s accomplishment as a marketing platform for luxury memorabilia.
Rawling and Gold Sports Collectibles have produced a 24-karat gold baseball to commemorate the event, and the MLB has created a $999 dollar baseball bat to mark the event.
Paul Farkas, founder of SocialTV, New York, also feels that it was nice to see Movado honor Mr. Jeter and his charity for his milestone achievement.
“Luxury is not always about price point,” Mr. Farkas said.
"This limited-edition creates an exclusive demand wrapped around a sports heritage,” he said.
“After all, Derek Jeter is one of New York's iconic ambassadors and it will be great for marketing by association for much of Movado's broader collection well after the commemorative watch sells-out.”
The limited-availability of these products is what makes them so important, and may cause them to sell out regardless of the price.
However, the one special edition probably may not have an overly positive long-term effect either, according to Chris Ramey, founder of Affluent Insights, Miami.
“Derek Jeter’s 3000th hit is but a moment in time,” Mr. Ramey said.
“One must be discerning when considering events,” he said. “Woodstock, landing on the moon and the election of Obama will withstand the test of time.
“I don’t consider Jeter’s 3,000th hit to be in the same category, but it also won’t damage Movado’s reputation because no one will remember."
Final Take
Kayla Hutzler, editorial assistant on Luxury Daily, New York
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