Haute Couture goes NFT: Digitalization at the Paris Fashion Week
For luxury brands, usual business and marketing practices work upside down. While other businesses aim to scale, optimize and become accessible — luxury brands are supposed to be a cold and beautiful dream, causing admiration and (rarely fulfilled) desires of ownership. Building a luxury brand takes generations of storytelling, and the skill of maintaining a fragile balance between making profits and remaining exclusive, one-of-a-kind perfection. This paradigm has shifted with the trends of the modern era, in which a successful business should be data-driven and community-driven. Digitalization aims to democratize everything from finance to art, and luxury brands need to follow this ever-changing reality and embrace innovation in their way.
Related: Beyond the hype: NFTs’ actual value is still to be determined
Sophia Schteiner holds a journalism degree from Lomonosov Moscow State University and started her career as an art critic covering the film industry and urban architecture. She founded her agency, Schteiner PR, focusing on luxury brands in art, French craftsmanship, design and interiors. In 2018, she joined an international communications agency, working with blockchain startups during the crypto bull market. Combining experience from both worlds Sophia writes about blockchain technology in creative industries.
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