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Fashion Brands Selling Virtual Goods

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Virtual goods have long been bought and sold in online games, and luxury fashion brands are now selling virtual items, too! In this video, we’ll explore how the digital is overlapping with the real in online communities and within styling apps where avatars are used. Watch to get a better sense of digital fashion, digital culture, and online commerce now and in the future.

These slides accompany a YouTube video created on this subject, which is available here: https://youtu.be/9i9owYPOZiQ

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Fashion Brands Selling Virtual Goods

  1. 1. Fashion Brands & Virtual Goods APRIL 2020
  2. 2. Virtual Goods THE MARKET FOR NON- PHYSICAL OBJECTS FOR PURCHASE IN ONLINE COMMUNITIES & GAMES Estimated market size for virtual products: $15 billion ~ $50 billion TheFabricantX JohannaJaskowska
  3. 3. GUCCI & GENIES • Available since late 2018, users can outfit their avatars with 200 Gucci pieces • In future, users will be able to purchase items (both digital and real) Gucci
  4. 4. Carlings DIGITAL-ONLY STREETWEAR COLLECTION • Norwegian retailer Carlings sold digital-only items for €10-30 ($12-35) • 3D-motion designers digitally add the garments to consumers’ images, which are then shareable on social media
  5. 5. Roberto Cavalli KIM KARDASHIAN'S HOLLYWOOD • Online game featured designs from Balmain, Karl Lagerfeld, Judith Leiber, Spring, Nars Cosmetics • Used game to drive attention and traffic to Karl Lagerfeld launch
  6. 6. Avatars & Digital Twins WHAT IS A DIGITAL TWIN? • digital replica of a living or non- living physical entity
  7. 7. We are the canvas
  8. 8. Symbiotic Effect INTERACTIVE RELATIONSHIP BETWEEN THE REAL AND DIGITAL
  9. 9. Louis Vuitton LV X LEAGUE OF LEGENDS • Digital skins AND IRL collection
  10. 10. Moschino MOSCHINO X THE SIMS 4 • Digital skins AND real-life capsule collections • Virtual items = $10/set • Real clothes and accessories = $85 - $1,295 per piece
  11. 11. 100 Thieves 100 THIEVES X ANIMAL CROSSING • Released virtual versions of every item of apparel they've ever made, downloadable via code for Nintendo's Animal Crossing • Items are notoriously hard to get in real life
  12. 12. COVET FASHION • New app/fashion game • The new "Paper dolls" (i.e. design your look) • Items available for purchase • Digital goods as gateway to real thing
  13. 13. Counterfeit Culture COPYRIGHT? • Fan art? • Knockoff vs. Real • Authenticity & representation • Digital assets & • identity
  14. 14. Sources & Further Reading: • Johanna Jaskowska: https://bit.ly/2xVEfwa (Instagram Account) • World’s First Digital Only Blockchain Clothing Sells for $9,500: https://bit.ly/3cK1jgu (Forbes) • Moschino Pixel Print Shirt Dress: https://bit.ly/2RVbeYg (Farfetch) • Advertising Enters the Next Dimension: https://bit.ly/2RZfqqh (8th Wall) • Luxury Fashion Brands Get in the Game with VR and Video: https://bit.ly/2yvBAcO (Danelion Chandelier) • From Burberry to Louis Vuitton and beyond: Why Gaming is the Next Big Thing in High Fashion: https://bit.ly/3bvBU9T (GQ) • Bitmoji Goes High Fashion: Your Avatar Can Now Wear Tanya Taylor, Alexander McQueen + More: https://bit.ly/3auYcr8 (Fashion) • How on Earth is Trading Virtual Items in Video Games a $50 Billion Industry? https://bit.ly/3cvGsxc (Wax.io) • Louis Vuitton on their League of Legends Collaboration: https://bit.ly/3bx5qwa (LV) • Monetizing the Already Whopping $50B In-Game Asset Market: https://bit.ly/2VKc6Ae (HODL Finance) • Digital Fashion Surges in a Sales Downturn: https://bit.ly/2Vtw2bR (Vogue Business) • Do Brands Benefit from Being in Kim Kardashian Hollywood: https://bit.ly/34WFojp (Fashionista)
  15. 15. EMAIL ADDRESS amanda@electricrunway.com WEBSITE www.electricrunway.com LINKEDIN https://www.linkedin.com/in/amandairl/ YOUTUBE https://www.youtube.com/c/electricrunway?sub_confirmati on=1 CONTACT ME

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