Etam has already launched several initiatives in Web3 in 2022, including a series of 5 special coins published in the form of non-fungible tokens (NFT). To understand what motivated the fashion brand to venture into Web3, we asked a few questions to Céline Wargnier, communications and events manager at Etam.
Etam launches into NFTs
September 27, 2022 was the 15th edition of the Etam Live Show fashion show, organized at the National Archives in Paris, broadcast on social networks and on television. For the occasion, the fashion brand has created 5 collector’s items published in 50 non-fungible tokens (NFTs).
METABODY ✨
An exclusive limited collection of 5 high-
couture, published in 50 numbered copies, accom
accompanied by their digital avatar.
CELEST BODY 🕊
MOONLIGHT BODY 🌘
NEON BODYSUIT 🪲
MERMAID BODY🧜♀️
GALAXY BODY 🌌 #EtamLiveShow #Etam #FeelFREE #NFT #Exclusive pic.twitter.com/L6SbIHODeN— Etam Official (@etam_france) September 24, 2022
In total, 114 unique and numbered NFTs were sold by Etam. A success, especially since the purchase price was 190 euros, against 50 euros on average for this kind of product in stores.
To ensure its first steps in the world of Web3, Etam has partnered with the French start-up Cohort. With a recent fundraising of 3.2 million euros, this young shoot offers an all-in-one solution aimed at supporting brands in their projects related to NFTs.
In order to learn more about the place of Web3 and more particularly of NFTs within the fashion industry and to have feedback from a first successful initiative, we had the opportunity to discuss with Etam’s communications and events manager, Céline Wargnier.
👉 Understand everything about this concept of non-fungible tokens, or NFTs
1. What were your motivations at Etam to launch into Web3?
In May 2022, we initiated a first Web3 experience during our cruise fashion show, where we offered our audience the opportunity to become the owner of a chapter in Etam’s history by acquiring one of the 40 silhouettes of the parade, with all the associated advantages and benefits. We noted a very good reception of the subject by our customers, with in particular 8 customers who were able to access the so-called “signature” silhouettes put on sale at 500 euros.
Given the interest of this first initiative and the first qualitative feedback from our customers, we wanted to go further and invest the metaverse to create an even more “unique” experience on our Live Show event in September 2022. The idea was to create the phenomenon of rarity on an exclusive “NFT collector” sales experience of 5 pieces entirely created for the occasion and modeled in 3D, numbered in 50 copies each.
Overview of Etam’s NFT collection
2. What motivated customers to buy these NFTs? What was their feedback and satisfaction with this project?
Through this NFT, customers obviously benefited from the virtual experience, but also from the physical product at their size within the limit of 50 copies. This NFT has also and above all made it possible to forge an ultra-privileged relationship with the brand, whether it be personalized shopping during the end-of-year celebrations or the creation of the piece adapted to the tailor-made size for the customer. Unanimously recognized experiences with obtaining the so-called exclusive piece and 18 positive feedbacks in stores following in particular the support of the personal shopper.
🎙 Are you a brand or a professional and you want to share your experience in Web3? Contact us at the following email address: [email protected]
3. For Etam, have NFTs made it possible to better understand the buying behavior of your customers?
On our side at Etam, it’s a new relationship that we nurture with our customers that I would describe as premium and personal. This is the whole paradox of Web3, where everything is digital. We attracted men – the clientele being more oriented towards women – and recruited new clients who were not part of the Etam community. This clientele is mostly younger and more digitally oriented. Finally, we found that the average basket is much higher than usual at Etam.
4. Are you already thinking about ways to offer digital versions of clothes purchased by your customers at Etam and make them usable in the metaverse, on an avatar for example?
We are thinking about an immersive experience but not yet fully digital. Our customers are not yet ready to switch to a 100% virtual identity, and that is the challenge of collaborating with Cohort. They allow us to practice the metaverse while still surfing the benefits of physical products.
5. Web3 opens up a new field of possibilities for interacting with customers and building their loyalty. Are you considering introducing other advantages for the holders of your NFTs (discount coupons, loyalty card, etc.)?
Completely, Web3 makes it possible to challenge the relationship between the brand and its customers and to adapt a tailor-made experience adapted to the type of customer. For the time being, we have already set up new advantages by offering tickets to the next parade to NFT holders. This raises the level of interaction between us, Etam, and our beneficiaries. The client becomes a member of a selective community.
🎙 Are you a brand or a professional and you want to share your experience in Web3? Contact us at the following email address: [email protected]
6. This collection of 50 NFTs was not really your first steps in Web3 since you had already offered in the past the possibility of buying a passage of one of your fashion shows in NFT. How do you think this kind of initiatives (related to NFTs and metaverse) can revolutionize the fashion industry in the future?
These initiatives strongly question the idea of the mass market (or “mass market” in French, this designates a market where large-scale production is carried out for a large number of end consumers). Now the customer wants to be considered. He wants to be able to benefit from privileged treatment according to his status and loyalty. He does not want to be just one number among many others in a customer file. In this sense, the NFT approach makes it possible to offer more than a product, a truly exclusive experience. Thus, this generates a unique feeling of belonging to the brand for the customer.
7. Any exclusivity to offer to Cryptoast to end this interview?
We look forward to seeing you on the occasion of our next Cruise fashion show to live the next Etam 3.0 experience…
👉 Want to know more? Discover the collection of NFT Metabody from the fashion brand Etam
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