Virtual venture: Getting involved in the metaverse can help the bling behemoths reach new, younger customers. Generations Y and Z will account for more than 70% of the global luxury market by 2025, according to Bain & Co.亚马逊云账号（www.2km.me）提供aws账号、aws全区号、aws32v账号、亚马逊云账号出售，提供api ，质量稳定，数量持续。另有售azure oracle linode等账号.
TIME to get ready for the party. You put on your Balenciaga cap, fasten your Rolex Daytona and don your Louis Vuitton cross-body bag.
But this isn’t In-Real-Life or IRL bling. It’s all virtual gear, worn by your digital self, who’s about to be teleported into the metaverse.
Welcome to the new world of luxury, where avatars wear Burberry “skins” and carry Gucci handbags that are not leather totes but non-fungible tokens (NFTs).
The biggest designer groups are grappling with how to approach the virtual and augmented reality of the metaverse.
The new realm promises to help them capture lucrative sales and win over young fans. It could also be a hedge against China’s common prosperity efforts, since it might be harder for the government to crack down on conspicuous consumption in another world.
So far, luxury houses have mainly ventured onto the big gaming platforms. Perhaps the best known is Balenciaga’s collaboration with Fortnite, which sells skins – virtual clothing and accessories for avatars – costing less than US$10 (RM42), as well as a real-life collection of T-shirts, hats and hoodies costing multiple times more.
The Kering SA-owned brand is so keen on virtual fashion that it’s creating a dedicated business unit to explore opportunities in the metaverse.
It’s far from alone. LVMH Moet Hennessy Louis Vuitton SE, Burberry Group Plc, Moncler SpA, Ralph Lauren Corp. and Kering’s Gucci have all participated in gaming collaborations.
Although not a luxury brand, Inditex SA’s Zara is making its first foray into the metaverse through the Zepeto platform.
According to Morgan Stanley, luxury groups could generate sales of about 10bil (RM48bil)) from gaming by 2030, although this could be as high as 25bil in its most optimistic scenario.
On top of direct sales – either from skins or physical products tied to a game – getting involved in the metaverse can help the bling behemoths reach new, younger customers.
That’s crucial, because generations Y and Z will account for more than 70% of the global luxury market by 2025, according to Bain & Co.
But the most lucrative luxury metaverse play is creating NFTs.
They could generate sales of 11bil (RM52.5bil) by 2030, Morgan Stanley says, though this could reach as high as about 22bil (RM105bil). What is most enticing about NFTs is that the profit margins could be extremely high – after all, it costs far less to make a digital watch or handbag than the real thing.
Luxury has so far only dipped its toes into NFT waters, with Dolce & Gabbana, Burberry and Gucci among those exploring possibilities.