Gucci is one of the top luxury fashion brands in #Web3.
How did they do it?
Kering, Gucci’s parent company, is exceptionally vocal about Web3.
“We think that Web3 and NFTs are a real breakthrough and we want to be pioneers on that” says its Chief Client & Digital officer, Grégory Boutté.
Kering's strategy is calculated:
It has invested in Haun Ventures, a Web3 VC founded by former a16z partner Katie Haun, to position its brands as leaders Web3 and metaverse leaders.
Gucci is more than a brand – it’s a cultural icon.
Over its more than 100-year history,
Gucci succeeded in creating a brand that’s constantly evolving with the zeitgeist of next-gen consumers while remaining true to its heritage.
For example:
📌 In 2002, Gucci ventured online, far ahead of other luxury brands.
📌 In the 2010s, Gucci started with social media collabs such as Harry Styles, Rihanna, Lady Gaga, Beyoncé, or Salma Hayek.
📌 In 2019, Gucci built out its omnichannel strategy and was among to first luxury brands to integrate features like AR within its app, allowing users to virtually "try on" products
Half of Gucci's sales now come from millennials.
Why is this important?
Gucci’s venture into digital fashion, #NFTs and virtual experiences is a result of its ongoing desire to stay culturally relevant.
Here’s a timeline of Gucci’s Web3 projects:
🎥 May 2021: Gucci debuts its first NFT "Aria" and wins a Webby for Roblox's Gucci Garden in Roblox.
– 🏬 September 2021: Gucci Vault, a digital-physical hybrid store, opens in Milan.
– 👾 January 2022: SUPERGUCCI NFT collection launches with SUPERPLASTIC.
– 🌐 February 2022: Partnership with blockchain world The Sandbox announced.
– 🎨 March 2022: Gucci Grail, a personalized NFT collection, is released with artist Wagmi-san.
– 💰 May 2022: Gucci accepts cryptocurrency and opens Gucci Town on Roblox
– 🎨 June 2022: Vault Art Space debuts, featuring NFTs and contemporary artists.
– 🦍 August 2022: ApeCoin accepted in select U.S. stores.
– 🕹️ October 2022: "Gucci Vault Land" in The Sandbox educates users and offers rewards.
– 🤝 April 2023: Multi-year deal with Yuga Labs; launches “Otherside Relics by Gucci” collection.
– 🎁 July 2023: Gucci Material NFT holders offered free physical products; second Christie's auction held.
– 👗 September 2023: Milan Fashion Week show replicated in Roblox and Zepeto.
Brands can learn a lot from these examples and they can start to think about how to position their brands in Web3.
