French Retailer Printemps Opens Metaverse Store

Credit: Printemps

Printemps, a French company with over 20 department stores, has officially entered Web3. Its first foray is a metaverse store where shoppers will be able to browse its virtual shelves for a variety of products. Here are all the details.

  • The virtual store is standalone and not part of any existing metaverse
  • Prices range from 115 pounds for necklaces to 1,650 pounds for Gucci bags
  • The store is part of a larger 2022 makeover, emphasizing experiential shopping
  • The metaverse store is available through the Printemps website

Customers who purchase a product in the Printemps metaverse will be enrolled to win one of 30 non-fungible tokens. Artist Romain Froquet created the NFTs in collaboration with the company. One of the 30 winners will also receive the original painting from Froquet, which he based the NFTs on.

The metaverse store has an “enchanted garden” theme. From the Atrium, users can navigate to various parts of the store, which takes them to selections of products. There are sneakers available, as well as handbags, jewelry, and clothes. After purchase, customers will have the items delivered to their homes.

Morgane Lopes, digital marketing director at Printemps, said the company has a “rich history” of innovation. Its founder was the first to install an elevator in a large store in 1874. Later, the Le Printemps store became the first public place in Paris with electricity. Now, the company is the first department store to create a virtual, 3D shopping experience for its customers and offer NFTs.

Luxury Brands Bet Big on Web3

Although many sectors of the economy have bet big on Web3, few have done so with as much gusto as luxury brands. Here are three stories at the intersection of companies producing luxury products and the next iteration of the internet.

First, there is Prada. Two months ago, it released its third NFT as part of its Timecapsule series. The NFTs for this drop came with real-life utility, granting some holders the ability to attend a September Prada fashion show.

Second, there is Gucci. It recently opened its home in Roblox to host a promotion for its “Gucci Flora” fragrance. And to do so, it hired Miley Cyrus to promote its product and interact with users. Roblox denizens were able take selfies with the Cyrus avatar, along with completing quests.

Third and finally, there is Dolce & Gabbana. Seven months ago, it partnered with UNXD for an NFT drop on the Polygon blockchain. Its NFTs served as memberships to the Dolce & Gabbana family, granting a variety of privileges.

Printemps’ metaverse store is a big deal as it shows more companies diving into Web3. If it’s successful, more companies may follow suit, speeding up adoption of this nascent technology. Here at Rarity Sniper, we’ll keep our ears to the ground for further developments in the story.