Quick take:
- Estée Lauder is the exclusive beauty brand partner of Metaverse Fashion Week.
- The beauty brand will be handing out free wearable NFTs inspired by its Advanced Night Repair during the event.
- Saint Laurent has filed trademarks for the metaverse.
As Metaverse Fashion Week (MVFW) approaches, fashion and beauty brands have been leaping into the metaverse in droves with NFT drops and new trademark filings.
Cosmetics company Estée Lauder is launching its first NFT inspired by its hero product, the Advanced Night Repair serum. As the exclusive beauty brand partner of Metaverse Fashion Week which runs from Mar 24-27, Estée Lauder will be giving away up to 10,000 NFTs to the event’s attendees.
According to a statement from Estée Lauder, those who receive the NFT will be able to go inside the bottle and apply the virtual serum to give their avatars a “glowing, radiant look”. The NFTs are designed by virtual creator Alex Box.
The NFT drop “marks a pivotal point for Estée Lauder in how we reach and engage new and existing customers in the metaverse,” said Stéphane de La Faverie, group president, the Estée Lauder Cos. Inc., and global brand president, Estée Lauder and Aerin Beauty, in a statement to WWD.
Beauty companies have been capitalising on the metaverse, which has been touted as a multi-trillion dollar industry. Last year, Estée Lauder’s subsidiary company, Clinique, introduced its first-ever NFT. In February, L’Oreal filed several trademarks for its subsidiary brands to offer NFTs.
Instead of trying to drive consumers to the metaverse through its virtual products, Estée Lauder is looking to grow its brand awareness among existing users in virtual realities. “I don’t think we want to just create something that we have to promote on our own, or drive people to the metaverse. We really want to operate within the metaverse environment to introduce our brand to consumers that are in the metaverse already,” said Jon Roman, senior vice president of global consumer marketing and online, Estée Lauder.
In metaverse and fashion-related news, Saint Laurent has filed three new trademarks applications on Mar 16 with the United States Patent and Trademark Office (USPTO) for the “Saint Laurent” name, an Yves Saint Laurent wordmark, and an interlocking YSL logo.
It appears that Saint Laurent plans to release NFTs as its Class 42 trademark application includes “downloadable and recorded virtual goods containing fashion-related artwork, text, audio, and video backed by NFTs for use in the metaverse and other Web3 environments; “authentication, issuance and validation of digital certificates” and “design of non-fungible tokens.”
The trademark applications also cover “downloadable and recorded virtual goods”; “online retail store services featuring virtual goods”; “financial services, namely, providing a virtual currency”; and “entertainment services, namely, providing on-line, non-downloadable virtual clothing and accessories”.
While Saint Laurent’s parent company, Kering Group, has assembled a dedicated Web3 team, it’s not known whether the fashion brand will be participating in MVFW.
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