This ad for Hermès was done by the Italian fashion photographer Paolo Roversi. Without any doubt it’s quoting the statue of The Little Mermaid sitting on a rock in the harbor of the Copenhagen.
This stunning mermaid is by the British photographer Zena Holloway, who is famous for her underwater creations. Still I’m thinking that you cannot make photos of mermaids without quoting late 19th century paintings like for example that of the British artist John Collier