Louis Vuitton’s Web3 strategy mimics its existing product strategy, which depends on buzzy, limited-edition accessories that double as collectibles. Its new logoed, diamond-encrusted “Millionaire Speedy Bag” costs $1 million — and is only available to top-tier clients. The NFT element adds a culturally relevant Web3, digital layer. The timing also builds on Williams’s buzz, while introducing the women’s collection into the conversation.

This year, while many have eschewed fast-paced, volatile NFT experiments, some of the top brands have consistently leaned into a consecutive, deliberate digital strategy that aligns with their existing ethos. Gucci is experimenting with how generative artificial intelligence might reimagine its intellectual property through a second Christie’s NFT art auction; also mirroring physical buzzy moments with metaverse counterparts. Nike, with new acquisition Rtfkt, is testing customisable phygital shoes and accessible NFTs. Balenciaga is attaching soundtracks to hoodies via digital product passports.

Digital design at parent company LVMH has also been a key focus; in June, it announced a long-term partnership to use Epic Games’s 3D creation tools on virtual fitting rooms, fashion shows, augmented reality and digital twins — such as the Via Tile Trunk.

Louis Vuitton announced the Via project in June, offering a couple of hundred phygital silver “Treasure Trunks” for €39,000 that collectors needed to apply to acquire. The Treasure Trunk tokens are “soul-bound”, which is a phrase in the Web3 community that means that they can’t be easily sold or transferred to another person, discouraging flipping. They can sell or transfer the subsequent purchases they have access to via the Treasure Trunks.

To advise on strategy and communicate the project to the Web3 fashion audience, Louis Vuitton hired a number of influential personalities in the space, including Deadfellaz founder and CEO Betty, Web3 fashion investor Megan Kaspar and Web3 fashion collector Seedphrase. As part of their partnership, Louis Vuitton gifted them with Treasure Trunks and invited the group to visit the company’s headquarters and the founder’s family home in Asnières-sur-Seine, France. When contacted by Vogue Business, a couple of the Guides said they are still working with the brand as it builds out the Via roadmap, which is expected to include events and more — but specific future plans, for now, are all still under wraps.

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