Lacoste Drops NFT in Virtual Store for Holidays

Lacoste Drops NFT in Virtual Store for Holidays

Luxury brand Lacoste is opening its first-ever virtual store just in time for the holiday season and will be enticing consumers to visit the store regularly through a VIP NFT program.

Consumers can enter the virtual experience through a crocodile’s mouth to explore a virtual showroom featuring five seasonal products. Visitors can purchase an NFT for access to a VIP room in the virtual store.

“Virtual stores are no longer a marketing stunt,” says Olga Dogadkina, co-founder and CEO of Emperia, the company that built the experience. “Over the past year, Emperia has seen virtual spaces evolving into virtual flagship stores, which change and update, aligning directly with brands’ physical retail efforts. Using NFT as a utility, as opposed to just being collectible, allows brands to create a sense of exclusivity and community, gathering followers who closely interact with the brand. The holiday season is a great time to reward those loyal clients with exclusive access to dedicated surprises, attracting them to the virtual store and keeping them coming back for more.”

The store is accessible to the general public but the virtual store features a room that is only available to Lacoste NFT owners, a Web3 community called UNDW3. Throughout December, the brand will drop ‘loot’ boxes in this VIP room and five users will be chosen each day to win a special prize. The brand is using these opportunities to help build loyalty and return visits throughout the season.

“Customer loyalty is crucial, especially in fashion,” explains Dogadkina. “Brands work hard to build a base of shoppers that follow them and thus NFTs are now viewed as a new way to get to know one’s user in a more intimate way, while providing those clients with a sense of exclusivity and inclusivity. NFT activity can teach a brand about one’s shopping habits, preferences, likes/dislikes, while rewarding their loyalty with a closer, more exclusive access to the brand.”