Celebrity endorsement has been traditionally considered as a strategic promotional tool by marketers. Actually, advertising scholars generally found a positive influence of celebrity endorsement on brand equity and, consequently, on consumer purchase intention. On the one hand, literature interprets celebrity source and endorsement factors as related to celebrity-brand fit, perceived celebrity motive, and celebrity expertise. On the other hand, consumer-based brand equity (CBBE) has been usually referred to brand loyalty, perceived quality, brand awareness, and brand associations. Despite such a growing interest, there is limited understanding of the underlying mechanisms linking celebrity endorsement to CBBE. Building on consumer psychology and brand signaling theories, this study develops a conceptual model which hypothesizes consumer-based brand authenticity (CBBA) and brand credibility as mediating variables of the aforementioned relationship. First, CBBA is interpreted as a multidimensional construct composed of a brand’s quality commitment, sincerity, and heritage. Second, credibility refers to a brand’s ability – e.g. expertise – and willingness – e.g. trustworthiness – to reliably keeping its promises to consumers. Moreover, this study hypothesizes that the influence of CBBA and brand credibility on CBBE vary according to consumers’ advertising evaluation. Hence, communication effectiveness is considered as a moderating variable of these relationships. The conceptual model is empirically tested using bootstrapped moderated mediation analysis on a sample of Millennial consumers. In fact, Millennials very well describe postmodern consumption and communication, which increasingly emphasize the need of “real” and authentic communication by credible endorsers and endorsed brands. By stressing the significant role of brand authenticity and credibility in the context of celebrity endorsement, this study provides both theoretical and practical implications to marketing communication literature.

• Silvia Ranfagni(University of Florence, Italy)
• Riccardo Rialti(University of Florence, Italy)
• Lamberto Zollo(University of Florence, Italy)
• Cristiano Ciappei(University of Florence, Italy)