En (virtual) vogue

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It’s the first day of fall, but instead of the usual pumpkin spice debate, let’s talk about fashion week.

With New York Fashion Week (NYFW) concluding last week, a number of brands leaned into incorporating new technologies into digital and physical experiences, from NFTs to virtual catwalks.

This isn’t the first time that fashion week has gone virtual — earlier this year, the metaverse?Decentraland?debuted the first Metaverse Fashion Week, complete with catwalks, activations, and afterparties. Over 50 brands participated, ranging from Dolce & Gabbana to?The Fabricant.

More and more brands are getting on board with digital fashion. We took a deep dive into?H&M’s digital fashion initiatives.

Source: CB Insights H&M Strategy Map brief

Looking ahead, here are some of the ways new technologies are transforming the fashion week of the future:

Virtual clothing creates new revenue streams, enables sustainability

Coming soon to a digital runway near you: virtual clothing drops and fashion lines.?

Purely digital fashion opens up new monetization and branding opportunities by bringing fashion and virtual goods into new environments.?

Virtual looks can be sold to consumers looking to express their sense of style in digital domains like social media, metaverses, and gaming universes.

More brands are already experimenting with digital clothing. Earlier this year, H&M launched a competition for its digital fashion collection with?DRESSX?where designers could submit name ideas for each look to win the virtual garments.

Beyond the finished look, 3D clothing offers time and cost savings during the design process, which is often tedious and takes anywhere from 3-8 months for a style to reach production, per McKinsey.?

For instance, South Korea-based?Z-Emotion?lets retailers tweak pre-existing 3D clothing models and build new garments without starting from scratch.

3D clothing also supports the push towards sustainability, conserving resources and reducing abuses in areas like supply chain, transportation, and materials.?

For more on digital goods and clothing, read more about our direct-to-avatar trend in our?12 Tech Trends to Watch in 2022?report.

Virtual models offer brand collaboration opportunities

I definitely thought the modeling industry would be one of the last to face disruption by Web3 technology, yet here we are.?

Virtual influencers, including virtual models, are coming for a slice of the?content creator economy?pie. They are landing brand collaborations and modeling contracts, signaling their growing power to influence consumer purchasing decisions via advertising and marketing.?

These virtual models could serve as brand ambassadors and prominent figures in virtual worlds with seemingly less reputational risk than working with a human.?

To this point, LVMH created its first metaverse ambassador Livi with startup?Altava?earlier this year.?

Source: LVMH

And just this week, Italy-based startup?Igoodi?partnered with fashion talent agency Elite World Group to develop 3D avatars of their models.

We most recently discussed virtual influencers and the impact they may have on the creator economy in our?Unbundling TikTok?brief (client-only).?

‘Phygital’ fashion bridges the gap between online and IRL experiences

Maybe most importantly is how brands are using emerging technologies to create a fluid experience between how consumers express themselves IRL and in digital spaces.

For instance, this year at NYFW, blockchain gaming startup?ChainGuardians?revealed a “phygital” clothing collection, with each look being available as both real and digital clothing in corresponding shows. Consumers could wear the clothing and also dress their gaming avatars for a matching look. Using augmented reality, in-person attendees could also take photos with virtual models wearing the clothing at the event.

It wouldn’t be surprising to see more brands doing something similar at future fashion shows, creating more interactions between online and offline behavior.?

In my opinion, this seems like the most likely future of the fashion week — one that blends physical and virtual elements and events to bring the best of both worlds and a more connected experience.?

For instance, clothing design may be fully done using 3D design software and then modified on models’ digitals avatars to determine fit to be produced for an IRL show (complete with Anna Wintour seated front and center).

Overall, these connections support the growth of omnichannel shopping journeys, creating new opportunities for consumers to discover and engage with new brands and products.

Happy fall and sign up here?to receive this newsletter directly in your inbox.

Kenya Watson