Waterford Crystal's Master Artisan Tom Brennan joins Yahoo Finance Live to discuss the new crystal work for the 2022 New Year's Eve ball drop in Times Square.

Video Transcript

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- Welcome back to Yahoo! Finance. Well, we are almost at the finish line. The end of the year is fast approaching, and one tradition that will continue despite omicron is the New Year's Eve celebrations in Times Square, right here in New York City. Integral to that is the world's famous crystal ball drop. Here with details on that Waterford gem is Tom Brennan, Waterford Crystal's master artisan. Sir, thank you so much for being here.

The one question I want to ask I know you will not answer. I want to know how much that both costs, but I'm sure you're--

TOM BRENNAN: Oh, I knew you were going to ask me that one. I mean, for sure--

- If we get the answer, I would be thrilled.

TOM BRENNAN: Yeah, I mean-- and I know you would, right? But you know, honestly, like Waterford Crystal, we would never even attempt to put a price on celebration and a new year and a new opportunity for everybody. So I want to go with the steadfast line that I've been using for so many years doing this. This celebration, this event is effectively priceless, and Waterford it just happened to be part of everybody's year going into 2022.

- And let me just ask you, we talked to a lot of business owners and workers about the challenges that they have faced, especially with labor shortages and the inability to acquire some of the ingredients they need to make their products. I'm just wondering if you've faced any supply chain issues like that yourself or labor issues.

TOM BRENNAN: Yeah, we've had not labor issues per se. And in actual fact, Waterford, we actually took on hundreds of people globally. We are a global company. There's a pull right now on our global demand. We've got a huge operation in Waterford, Ireland, where we began-- I saw on your screen a moment ago-- 1783. We've got European facilities. We're available in over 100 companies-- Waterford, Wedgwood, Royal Doulton, and Royal Copenhagen. All of those great, great companies right there. But we've had our challenges but we had the back up to make it happen. We delivered, and our customers are right there for us every time.

- And Tom, what can you tell us about the new design? It's part of the "Greatest Gifts" series.

TOM BRENNAN: Yeah, I mean, you know, it's part of a 10-year issue of crystal ornaments, stemware, gift ware-- really, what we call sharing a common thread of international generosity that is truly universally treasured. And you know, each and every year we have a new theme, a new cut pattern, and this year's theme is the gift of wisdom. And wisdom for me is something that, you know, it's always apt. It's always ready. And it's a new year, and I think this year, going into 2022, given the challenges that we really have all faced, I think it's a great fresh year full of opportunity, potential, and wisdom for all of us as we get ready for that countdown in just a couple of days' time.

- Yes, and it's been a really great year for a lot of luxury retailers, especially--

TOM BRENNAN: That's right.

- --given the pricing power that they have and the fact that we're experiencing inflation, and a lot of these goods are potential stores of value here. So I'm wondering, just surveying your customers, how you see this playing out.

TOM BRENNAN: Yeah, that's a great question. We are seeing that, because you know, I bring it down to kind of everyday level. You can talk about the market and commodities, like, all day long, but I bring it down to what people are doing at home. They're investing in themselves. They're investing in their homes. And over the last 18 months, a lot of peoples and families didn't make necessarily the big purchase like the cruise or changing the car. You know, everybody is moving house, it seems, but what they're doing is they're investing in their home and they're celebrating their home, celebrating their lifestyle, with beautiful Waterford Crystal.

So whether it's going to be the beautiful lamps you see before me-- I mean, if I'm going to have a whiskey over the next couple of days, I'm going to make sure that I've got my beautiful Waterford Lismore double old-fashioned glass to them, because there's no point-- If you bring it down to this level, there's no point in investing in a little bit extra, like a nice whiskey, a nice wine. This is what you need to do to really complete the experience. And I think that really applies to so many people out there. They're investing in themselves, and they're using our brands like Waterford, Wedgwood. So many different brands to do so.

- Tom, I want to ask you, just personally, you know, the events at Times Square have been scaled back-- 15,000 people--

TOM BRENNAN: Right.

- --instead of the usual crowd. For you, personally, what does it mean that it is taking place and to be a part of it after the year that we've had?

TOM BRENNAN: Yeah, and you know, I was looking at the news like everybody out there. You know, the last number of days and weeks, I mean, there have been global celebration canceled, not just here in the United States, but across the world. And I think it's a testament to us in Waterford Crystal, to the Times Square Alliance, and of course, the authorities in New York City that not only this yeah-- remember, last year, we were, you know, let's face it, in a worse-off position and we made it happen last year. We were just adamant that we were going to do it this year. You know, we came together, Waterford, all of the team, and we're just very grateful that the iconic Waterford Crystal Times Square ball continues to be part of people's special moments.

And we have talked about it. We know there's a scaled-back version, but more importantly, it's happening as we get ready for 2022.

- And we just have about a minute here, but can you talk about some of the craftsmanship and people hours that goes into making some of these fine items?

TOM BRENNAN: Yeah, I can get very personal about this, and I can stay literally talking about this all day long. I mean, my role at Waterford-- right now, I'm a spokesperson artisan for Waterford Crystal, but my day job, you know, growing up in Waterford, Ireland, was a glass blower, so I did this for 15 years. I learned from my dad who was a glass thrower before me. So the artistry and the skill and the craftsmanship and the design excellence that Waterford employs in every single facet of what we do is second to none.

That's why we, today, Waterford, we're unrivaled for brilliance, for clarity. We've got the finest quality crystal in the world right now for reputation for design excellence, and this is going on for 238 years. So when you put that timeline in place, and I think we're doing something right.

- Well, I don't have a Waterford glass to do it with but cheers to you, and thank you for all the work--

TOM BRENNAN: I'll send you this one. I'll send you this one right here. You got it.

- Congratulations to you, and happy new year.

TOM BRENNAN: Thanks, guy.

- Waterford Crystals--

TOM BRENNAN: You got it.

- --master artisan.