Diesel has launched its first digital fashion collection, for Meta avatars.
Ahead of its digital fashion show on September 20, the brand has introduced 10 digital fashion pieces, each based on a design developed by creative director Glenn Martens since he joined the brand in 2020. The first five pieces were available to purchase on Thursday, with the next five launching later in the year.
The digital fashion collection stems from Diesel’s new partnership with digital fashion retailer DressX, with the retailer providing the connection to Meta as the official retailer for its digital fashion. The pieces are being sold in the Meta Avatars Store on Instagram, Facebook, Messenger and Quest VR. Most items are $5.99, but there’s also one free item. To promote the products, the brand is relying on its social media channels and press.
On September 14, Meta announced that its metaverse platform, Horizon Worlds, is moving outside of VR environments to also be available on mobile and web. As of October 2022, which was the last time the company shared user numbers, Horizon Worlds had approximately 200,000 monthly users.
“The future of fashion is beyond fashion and beyond physical clothing,” said Stefano Rosso, CEO of web3 brand BVX and board member of OTB Group, the parent company of Diesel. “It’s all about brand presence and the look of people within virtual and augmented reality environments. Digital fashion is a great opportunity for the future development of brands, in terms of creativity, and in terms of revenue stream potential, as well.”
Diesel has so far only launched music-focused web3 collectibles over the last two years, with all of the items selling out, according to Rosso. The brand has 7,000 Diesel community members on Discord.
“Diesel’s ethos is represented by OTB’s ‘Only The Brave’ outlook,” said Natalia Modenova, co-founder of DressX. On top of Diesel, OTB owns four other brands including Jil Sander. “This ethos resonates deeply with our values and culture. Embracing new technologies and seizing novel opportunities perfectly aligns with our mission.”
In addition to digital fashion, Diesel is releasing 300 digital collectibles, on September 12. The collectibles have various utilities, including providing access to Diesel’s Milan show, facilitating first access to new products and granting access to Diesel’s web3 community. The collectibles were created in partnership with NFT platform Polkadot.
OTB last reported full-year earnings on February 14 and has confirmed ambitions for an IPO in 2024 or 2025. In the 12 months ending on December 31, turnover, including royalties, totaled €1.74 billion ($1.87 billion), up 14% year-over-year. Its net sales amounted to €1.63 billion ($1.75 billion), up 12%. The company also reported that Diesel now makes up 40% of the group’s revenue.