The French luxury fashion brand Louis Vuitton (LV) just unveiled a new western-inspired leather jacket linked to an Ethereum-based NFT collection called ‘Varsity Blouson.’ The new jacket was designed by legendary producer Pharrell Williams, who is also the Men’s Creative Director at LV.
The jacket capitalizes on the recent popularity of cowboys and country music (see Beyoncé’s latest album), featuring suede buckskin, an embroidered LV emblem, and shimmering fasteners. Like most LV products, the jacket won’t be cheap. It’s priced at €7,900 (or around $8,400) and will be released in an extremely limited fashion.
According to the report, the cowboy jacket is only be available to 200 holders of Louis Vuitton’s ‘VIA Treasure Trunk’ NFTs who purchase a Varsity Blouson NFT. And buyers will have to be patient, as the physical jacket is expected to arrive sometime near the end of 2024.
The latest move from LV expands on its VIA NFT collection, which dropped in June of last year with the sale of phygital Treasure Trunks priced at €39,000 a piece (or around $42K). The NFTs accompanying the physical trunks are soulbound, so they cannot be sold, traded, or gifted to another owner. Holders of VIA NFTs, of which there are only a few hundred, receive exclusive access to physical and digital products from the luxury fashion brand.
LV’s most recent drop for VIA Treasure Trunk holders occurred in November 2023 and consisted of a limited-edition bag designed by the world-renowned fashion designer Nicolas Ghesquière. Like the latest cowboy jacket, there were only 200 bags available. They sold for €6,000 apiece (or around $6,560).
Louis Vuitton Puts the Luxury in Web3
While some brands focus on making NFTs cheap and accessible to the community, that’s certainly not the case with Louis Vuitton. Instead, the luxury fashion house has stayed on brand by releasing only exclusive, limited-edition, high-end products in Web3.
Here’s a review of some of the top headlines from LV in Web3:
• Louis Vuitton’s Newest NFT Drop Is Yours For $6500
• Louis Vuitton Doubles Down On Web3 With Discord
• Louis Vuitton & Pharrell Unveil ‘Speedy’ NFTs with IRL Claim
• Louis Vuitton to Release $42K Phygital NFT ‘Treasure Trunks’
• Louis Vuitton to Release New NFT Collection
Rather than launch big NFT collections that are available to a wide range of customers, LV appears focused on rewarding the holders of its Via Treasure Trunk NFTs first. They’re also keen on ‘phygital’ releases, or the combination of physical products linked to digital assets.
In the future, we wouldn’t be surprised if LV expanded its VIA Treasure Trunk program to bring in more holders. But for now, it looks like the brand is content to focus its energy in Web3 on its existing high-end clientele, and to continue rewarding those who’ve already invested.
We’ll have to wait until the end of the year to see if VIA Treasure Trunk NFT holders are happy with their new cowboy jacket. But considering the exclusivity of the product and the reputation of its designer Pharrell Williams, we’re guessing they will be.