Hermès wants to enter the metaverse. The famous French luxury brand believes that virtual worlds are a great way to interact with consumers. Now that e-commerce has become one of the main drivers of growth, Hermès plans to follow suit with other luxury giants.
Hermès plans to go into the metaverse
Next Wednesday, April 20, 2022, Hermes, the famous French luxury brand, has released its quarterly financial results. The group showed its interest in the metaverse during the general meeting of shareholders that was organized on the occasion.
That is indeed what our colleagues from Journal du Luxe reportAxel Dumas, CEO of Hermessaid to himself “curious and interested” through digital worlds accessible through virtual or augmented reality. The leader believes the metaverse could establish itself if: “a good means of communication” for the brand.
Axel Dumas has not worked out Hermès’ ambitions. We imagine the luxury brand could rely on the metaverse to unite its community, create virtual reality stores or sell virtual goods inspired by its creations.
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Luxury brands are turning to the metaverse
So far, Hermès has stayed away from digital assets and Web3. Focused on its artisanal approach, the fashion house prefers ” learn and follow » rather than hasten its entry into the metaverse. So the metaverse is not not the priority of the Hermes group.
However, in its quarterly financial report, the company indicates that its revenue is highly dependent on: are online stores. Axel Dumas even states that ” 78% of our e-commerce customers are new customers”.
Digital communication is therefore imperative as a big problem for the brand, whose growth is largely based on e-commerce. In any case, based on solid sales, Hermès intends “to increase its strategic investments” in the near future.
This speech comes a few months after the French company came into conflict with a maker of non-fungible tokens (NFT). Indeed, Hermès discovered that a person named Mason Rothschild was selling digital bags inspired by his own. The multinational believed that the NFTs constituted an intellectual property infringement.
Unlike Hermès, many luxury brands have already ventured into the metaverse. For example, Gucci joined The Sandbox (SAND) to sell virtual assets there.
Last month, brands like Tommy Hilfiger, DKNY, Puma, Forever 21, Roberto Cavalli, Paco Rabanne, Dolce and Gabbana even participated in the first Fashion Week in the metaverse of Decentraland (MANA).
👉 Also Read: Louis Vuitton Enriches Its Mobile Game To Win NFTs
Sources: Hermès, Journal du Luxe
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