kering web3

Famed French luxury goods company Yves Saint Laurent Parfums SA is set to make its debut in the metaverse with an application for a trademark related to the use of non-fungible tokens (NFT) for virtual products.  The company will launch hair and body care products ready for beauty lovers to use in virtual worlds. Yves Saint Laurent Parfums also plans to open online retail stores offering cosmetics, perfumery, and other virtual beauty products. Yves Saint Laurent Beauté offered a collection of 10,000 NFTs minted on the Polygon blockchain for sale in June. Yves Saint Laurent is owned by French luxury conglomerate Kering, which also owns Gucci. The latter is an active web3 player that has developed several NFT collections and metaverse experiences. With this entry into the web3 space, it seems that Yves Saint Laurent plans to appeal to a younger audience. Or, like many other fashion and beauty brands, the company sees the metaverse becoming necessary for an overall marketing strategy. 2022 was a pivotal year for integrated projects between the fashion and beauty industries, and the burgeoning Web3 space. High-end brands such as Gucci, Lacoste, and Tiffany presented interface strategies between NFTs and blockchain technology aimed at giving token holders more economic power as cryptocurrency prices fell significantly.