Despite cryptocurrency's and NFTs' falls from grace in recent months, brands still view the closely-related web3 as a lucrative creative opportunity. Brands including Nike and Italian footwear brand Casadei are building their own metaverse platforms and phygital collections to provide more tangible value to customers.
Shopping centers in the United Kingdom, especially in London, have become a vital part of the local retail landscape. Battersea Power Station, a new opening, follows Coal Drops Yard in Kings Cross that opened in 2018 in the trend of redesigned heritage London sites transforming into shopping and living destinations.
Marianna Hewitt, co-founder of skin-care brand Summer Fridays, launched the cult brand in 2018 with fellow influencer Lauren Gores Ireland with a single SKU product: the Jet Lag Mask. Now, the brand is stocked in Sephora and sells 14 cult products. Since its launch, Summer Fridays has used the lessons...
Brands like Coach and Crocs are investing in virtual stores for the holidays, aiming to outperform last year's e-commerce site engagement and sales through fantastical recreations of their own boutiques.
Innovation and sustainability are becoming more entwined, as companies like On Running, Allbirds and Athleta focus their product design and development on getting the best of both worlds.
Head-to-toe looks and immersive role-playing games on Roblox are becoming more attractive opportunities for brands, especially as the gaming platform gains popularity, making it harder to stand out.
In December 2021, Nike acquired collectible sneaker retailer and NFT platform RTKFT, co-founded by Benoit Pagotto. Nike now leads the metaverse fashion sector with $185 million in NFT sales.
Among companies driving fashion’s circular economy is Finland-based materials company Spinnova, with Janne Poranen at the helm. This year, Poranen led partnerships with Adidas and Marimekko to create quality garments out of wood pulp.
Twelve-year old On Holding AG, founded by Olivier Bernhard and backed by Roger Federer, entered its IPO in September 2021 with a $6 billion valuation. For 2022, it’s projecting net sales of $1.1 billion.