Gucci held the Ancora Fashion show late last week with a new creative director Sabato De Sarno at the heart of the designs.
Gucci, a fashion behemoth and subsidiary to Kering SA (Paris: KER), made a strategic digital move to widen its global reach through the fast-growing metaverse industry. Having held the Gucci Ancora Fashion show last Friday, the company now intends to display its products to more audiences through metaverses created by Roblox, ZEPETO, and China’s QQ. As a result, the fine fashion display by creative director Sabato De Sarno can now be accessed through the digital team.
Roblox metaverse has grown to a mature ecosystem that rewards content creators. Some of the notable users of Roblox metaverse include Nike, and now Gucci. ZEPETO ecosystem is the backing behind the ZTX web3 platform that recently sold out its NFTs dubbed the Genesis District Homes on OpenSea and taps on Ethereum’s L2 network, Arbitrum (ARB). Notably, the ZEPETO ecosystem consists of hundreds of thousands of lifetime subscribers, thus a favorable marketing stage for GUCCI products.
Tencent Holdings’ messaging platform QQ will enable GUCCI to display its fashion products to the vast Chinese market. With the three combinations, Gucci is assured of more sales as more people access its products that are verifiable through blockchain at scale.
Closer Look at Gucci Products via Metaverse
Gucci had tasked its Dream Big team with the responsibility of creating brand projects on the web3 ecosystem, more so in the metaverse sector. Moreover, Gucci can tap into the virtual world realms on the three web3 ecosystems to present its fashion products. In real words, Gucci suffers from periodic weather challenges among other unpredictable events. For instance, the fashion behemoth intended to host the Ancora show in the open, around the fine arts university Accademia di Brera, but was deterred by the unfavorable weather conditions.
Moreover, the models in the Gucci Ancora Fashion show were in specific products that detailed glamorous features. Essentially, Gucci can scale its products’ fashion show even higher through the metaverse digital world. Moreover, the company will need fewer real-world models, than just displaying to a small audience in the real world.
The company will also reduce the challenges of counterfeit products at scale as more buyers can now verify through blockchain technology. For instance, it is possible to track a product on the blockchain through the use of NFC chips. Blockchain’s smart contracts now allow companies to mint NFTs that are connected to real-world products through an NFC chip.
Market Outlook
The Italian-based fashion house remains a major player in the earnings performance of the parent company Kering. During the first quarter, Gucci recorded a recurring operating income of about €1.81 billion, down approximately 4 percent from the same time last year.
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