Last update on: 5:34 pm March 11, 2024 by fashionabc

Luxury fashion has always been a community driven by passion, artistry and invention . . . until it all stopped with the spread of the global pandemic. In a script that is now being rewritten each day since, there are a few constants: an increasing focus on sustainable fashion and growth of digitalization. In a world driven mostly by technological advancements, is digitalization and the integration of Web3 technologies an inevitable evolution for luxury fashion brands?

It would seem so. In recent times, top global luxury fashion brands have begun exploring the potential of integrating digital IDs to their physical goods, perceiving it as their commitment to traceability which ensures that consumers have confidence in the products’ authenticity and source, further reinforcing its values of transparency and sustainability. However it’s also getting ready for a new set of EU regulations. The European Commission will soon require fashion to give each item its own DPP as early as 2026 as part of a broader effort to push sustainability and transparency in industries operating in Europe.

Luxury fashion brands working on DPPs have generally begun with small implementations as they work out how to extend them more widely. French fashion house Dior is embracing digitalisation with its new range of men’s footwear, B33 Sneakers, as part of the Men’s Fall 2023 collection. This line merges the worlds of fashion and blockchain technology as each sneaker is accompanied by a “digital twin” NFT on Ethereum and an NFC chip-oriented verification system. ‘Each shoe has an NFC (near-field communication) chip in the sole of the right foot that gives access to a blockchain-based certificate of authentication. Scanning the NFC also will reveal information on the manufacturing process and future sneaker launch announcements…’ per Vogue Business. ‘…the first styles to be released also include access to an additional NFT: a “soulbound” token on the Ethereum blockchain that can’t be transferred from the wallet that mints it; it also includes a digital twin that can be worn on Snapchat and allows early, exclusive perks starting with the Spring 2024 collection.’

Source: Dior

 

Before our lives propel forward full-throttle again, luxury fashion brands like Dior are quietly working towards designing a better future. Notably, the French fashion brand’s promotional materials avoid explicit references to blockchain-related terminology such as Web3 and NFTs, setting it apart from previous campaigns of parent brand LVMH which has proven itself as a pioneer in integrating blockchain technology within the luxury sector. The launch of the sneakers was quietly announced with a tweet from the brand’s official Twitter account as “Sneakers Alert. Introducing ‘B33’ sneakers by Kim Jones, from the #DiorMenFall 2023 collection. Each pair is equipped with an encrypted key granting access to a secure platform and exclusive services.”

So, while the precise path ahead for luxury fashion brands might still be unclear, its direction is not. The world’s last great pandemic, which lasted from 1918 to 1919, ushered in one of the most progressive and creative decades of the twentieth century. This time around, the future of fashion is pointing towards an ethical, sustainable future with most of the answers increasingly pointing towards digitalisation. Dior’s future plans include implementing the technology in all future iterations of the B33 line. This could potentially be extended to other products as well…