CRYPTO-FASHION: John Richmond is getting its slice of the NFT business.
On the heels of Milan Fashion Week, where it introduced its fall 2022 collection via a presentation, the brand unveiled a partnership with cryptocurrency provider Shiba Inu, one of the key players in the blockchain-enhanced ecosystem, for the launch of an NFT-based fashion collection later this year.
Called John Richmond x Shib, as in the name of the meme cryptocurrency issued by Shiba Inu, the collection will include 10,000 non-fungible tokens bowing in the second quarter of 2022. The company has yet to determine how the digital tokens will be marketed and said it is working on a “unique” experience.
Physical counterparts to the NFTs will then be paraded on the John Richmond runway during September’s Milan Fashion Week, slated to run Sept. 20 to 26.
The show will be titled “Legends Live Forever” and its fashion will be marketed as a see now, buy now collection immediately available at the brand’s Milan and Shanghai flagship stores, as well as on its e-commerce and at select e-tailers.
Many international fashion companies are experimenting with NFTs. Last week, Plein Sport relaunched as a metaverse-native brand offering a first drop of sneakers that come in NFT iterations, too, while Nigo’s first limited-edition capsule for Kenzo also counted a NFT counterpart.
John Richmond is operated by Arav Group, which also controls the Marcobologna and Silvian Heach brands. The group acquired a controlling stake in the fashion house founded by the British designer, who still holds the role of creative director, in 2017.