The whip-smart business strategy behind Karl Stefanovic and Jasmine Yarbrough’s engagement
THEY say money can’t buy love but love can certainly make money. And Karl Stefanovic and Jasmine Yarbrough are becoming Australia’s version of Brand Beckham.
Confidential
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THEY say money can’t buy love but love can certainly make money. And Karl Stefanovic and Jasmine Yarbrough are becoming Australia’s version of Brand Beckham.
When the 34-year-old model-turned-shoe-designer met Australia’s favourite larrikin a year ago, many initially thought the 43-year-old TV personality was having a classic midlife crisis, after severing his happy family life and leaving his wife of 21 years Cassandra Thorburn and three children.
But what appeared to critics as infatuation has proven to be love, as the pair confirmed their engagement and marriage plans.
Despite being the nation’s hottest couple, the pair has refused to do an interview about their relationship. But what they have done is take advantage of the interest in them as a couple to build up Jasmine’s business and make Karl cooler in the process.
Jasmine’s shoe brand Mara & Mine has boomed in the past year, in no small part thanks to the publicity her love life has brought. Up until now her small but chic label was an online business beloved by fashionistas but not known by the general public.
Now she has become a household name, she’s sitting front row at New York Fashion Week, is a red carpet regular in Australia and has amassed 19.5 thousand followers on Instagram since creating a public profile in October.
“A year ago Jasmine was completely unknown in Australia — but now she is at every event,” one Sydney social scene insider said. “She’s certainly making the most of her new fame.”
In 2013 Brisbane-born model Jasmine launched footwear brand Mara & Mine with friend Tamara Ingham. The range of stylish flat shoes cashed in on the craze for velvet slippers and was quickly embraced by celebrities including Cara Delevingne, Chanel Iman, Kendall Jenner and Margot Robbie. Selling for around $400 a pair, the shoes and matching clutch bags were an instant hit.
“Jasmine and Tamie have redefined fashionable flat shoes,” says Edwina McCann, editor-in-chief of Australian Vogue. “It’s hard to make a fashion statement in flats, but Mara & Mine manage it with aplomb.”
And while the label was going from strength to strength — stocking internationally with Moda Operandi — this past year has seen it grow exponentially at home, with the opening of a flagship store in Paddington and David Jones carrying the brand.
“Stocking into David Jones has been a dream come true,” says PR representative Robyn Catinella, who confirms the line has a coveted Open-to-Buy agreement with the store, which commits to buying a set amount each season.
“The brand is expanding its wholesaling on a global level, has formed stockist relations with major boutiques in the US, UK and Asia and is in showings in New York and Paris.”
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It is no coincidence that the sudden upward trajectory has occurred with the increase in publicity. This month Jasmine was photographed front row at the Badgley Mischka show at New York Fashion Week and she and Karl attended the David Jones runway parade in Sydney.
“It’s great timing for the brand, which can capitalise on the marketing opportunities around Jasmine’s engagement,” says Prue Lewington, The Sunday Telegraph fashion editor. “It’s good business really, she even took the opportunity to promote her Louise mule at the David Jones show.”
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Although Karl insists they want privacy saying, “I think that there is a really important need to be as private as we can, even though we’re public,” and refuses to walk the red carpet when he attends events like David Jones, the pair are adept at leveraging social media for publicity, redolent of the Beckhams.
Jasmine posted a photo on Instagram of them celebrating at celebrity restaurant Otto in Woolloomooloo, her diamond ring effectively announcing their engagement, and the couple was happy to be pictured after dinner in Sydney on Wednesday.
He’s clearly enjoying his stylish new life — even if Today viewers are not as enthusiastic, with ratings wobbling post his marriage breakup. Not previously known for his fashion sense, Karl has even been snapped sporting Jasmine’s furry sandals in Queensland, teamed with one of her clutch bags and a hipster flat cap.
“Is Jasmine getting benefits from her relationship? Undoubtedly,” says Jonathon Moran, The Telegraph chief entertainment writer. “He’s connected and that has rubbed off on her. But he’s benefited too: Her style has rubbed off on him.”
Karl gave Jasmine a ring from Nic Cerrone, rumoured to have cost $120,000 although he denies this.
And despite Jasmine posting a cryptic photo of baby bottles and champagne on Instagram, Karl says she is not expecting a child.
“Jas isn’t pregnant. The ring … didn’t cost $120,000. Those figures are ridiculous,” Karl told Nine’s TheFix.
He says there is no media deal around their wedding and no rush. They expect it will be later this year and want to keep it a surprise.
“It’s not the pressing thing in our lives,” he told Confidential this week.
“There’s no one who’s going to know what we’re going to do.”
Like Victoria Beckham did for David, Jasmine has quite literally rebooted Karl, updating him for a new market. And you get the sense Stefanovic Inc has only just begun.