Worldwide fashion brand Dior recently announced a new line at the end of June, called B33. They were designed by Kim Jones for the Dior 2023 fall men’s collection.
Dior is following in the footsteps of other leading footwear brands that have begun to utilize blockchain technology for sneaker drops or added benefits. Nike and Adidas, two of the biggest footwear brands in the world, have launched NFT footwear, with the latter having the NFTs be redeemable for the physical product. Dior is just one major brand under Moët Hennessy Louis Vuitton (LVMH) that has been looking to leverage blockchain technology.
LVMH Embracing Blockchain Across Brands
There are a ton of major brands that fall under the LVMH umbrella, with many of them introducing blockchain-based features for programs and product lines. Louis Vuitton recently launched their “Treasure Trunks”, which were limited edition NFTs that came in at a price point of €39,000 each. Buying a Treasure Trunk entitled the purchaser to a made-to-order Louis Vuitton physical trunk, along with access to exclusive customizable products, early releases of new products, and bespoke experiences. The NFT is not tradeable and is bound to the original buyer. There was no note of how many they would make, just that there would be a waitlist and those that were chosen could purchase a Treasure Trunk with fiat or crypto.
TAG Heuer, another LVMH brand, announced its new Connected Calibre E4 smartwatch, which will permit owners to display their NFTs on the watch’s digital face. This came not too long after the watch company announced that they were partnering with BitPay to accept 13 different cryptocurrencies on their online store.
Hennessy recently announced the launch of the H3NSY digital platform which is meant to serve as a membership platform and hub for creators, cultures, and communities. This goes along with future NFT partnerships, Café 11 program announcements, Web3 bottle drops, and other blockchain innovations. This comes almost a year after the brand began selling NFTs of Hennessy 8, a limited edition craft blend that was five years in the making and celebrates Hennessy’s 250 years of history.
Purchasers of Hennessy 8 receive an NFT equivalent to two of the cognac bottles and can redeem it for the physical product or trade it on a secondary marketplace. This is a new experiment in curbing counterfeiting, as Hennessy is almost solely exported. Having NFT verification of bottles helps prevent fraud for such a high end brand.
Dior’s B33 with Digital Twins
Dior’s B33 sneaker line launches on July 6, 2023, with 470 pairs of the sneakers available for €1,200 each, and it being the first of seven styles of the sneaker. This initial launch of 470 is the most expensive, and comes with an NFT digital twin and an encrypted key that grants access to an online platform with exclusive services.
The next six styles will be cheaper, but won’t come with a digital twin. Instead, they come with an NFC chip that will be associated with an encrypted key that leads holders to the same platform as the top end version.
Dior is unlikely to be the only brand to experiment with using blockchain for a variety of uses, and it will be interesting what other brands come up with for utilizing blockchain technology to their advantage.