Future+ Fridays | Issue43

1. Luxury brands bet on Bitcoin: embracing crypto to attract new wealth

What's happening: As the year draws to a close, Bitcoin has reached unprecedented heights, mirroring a growing trend among luxury brands. Luxury brands have been increasingly embracing cryptocurrency payments, leveraging the rise of Bitcoin and other digital assets to appeal to affluent investors and younger clientele, especially in the face of industry-wide slowdowns.

TLDR:

• Bitcoin’s price recently hit $107,000 (before going down to $95K at the time of writing the newsletter), driven by optimism around regulatory changes and growing blockchain adoption in financial markets.

• S.T. Dupont plans to enable cryptocurrency payments in its Paris stores ahead of the holiday season. Gucci, an early adopter, has been accepting crypto in the US since 2022.

• Luxury watchmaker Hublot, along with brands such as Jacob & Co., Off-White, Ferrari, also accept cryptocurrency payments.

• French luxury department store, Printemps is now accepting Bitcoin and Ether in France, becoming the first European department store to offer crypto payments before expanding to New York. Farfetch has also embraced cryptocurrency, accepting a selection of digital currencies.

• Virgin Voyages introduced a $120,000 annual cruise pass that can be purchased with Bitcoin, and Balenciaga launched a leather card holder designed for Ledger crypto wallets.

• Luxury brands are using crypto payments to signal innovation and attract affluent investors, though most payments are converted into traditional currencies to avoid volatility risks.

• The strategy targets younger shoppers and emerging markets, positioning brands as forward-thinking in an evolving digital economy.

Why it matters: Luxury brands are adding cryptocurrency payments to attract new and existing wealth created by Bitcoin's rise. This approach helps reposition brands as tech-forward while tapping into the spending power of younger, crypto-savvy consumers. Although still niche, crypto payments reflect how the luxury market is adapting to broader technological and financial shifts, ensuring relevance in a digital-first era.

2. Tribute Brand acquires Draup to launch Fashion.Fun platform and transform digital wearables

What's happening: Digital fashion innovators Tribute Brand and DRAUP are joining forces to redefine the virtual fashion space. Tribute has acquired DRAUP, with DRAUP’s CEO Dani Loftus stepping in as Tribute’s chief commercial officer. Together, they’re set to launch the Fashion.Fun platform for digital wearables this coming January 2025.

TLDR:

• Tribute Brand acquires DRAUP, solidifying Tribute’s leadership in digital fashion amid challenges in luxury markets and a dip in metaverse hype.

• DRAUP founder Dani Loftus joins Tribute as CCO, overseeing strategy, sales, and marketing to build out a new platform Fashion.Fun.

• The platform Fashion.Fun is set to be launched in January, offering Augmented Reality and digital wearables, merging brands, artists, and crypto projects.

• High-profile collaborations include Tribute working with Carolina Herrera, Jean Paul Gaultier, and celebrities like Kim Petras, while DRAUP brings artistic partnerships and auctioned digital collections.

• Shared vision aims to combat overproduction with zero-waste digital and physical fashion innovations.

Why it matters: The acquisition of DRAUP by Tribute Brand signals a turning point for digital fashion. By combining their expertise and introducing the Fashion.Fun platform, they aim to merge creativity and technology while addressing real-world problems like overproduction and waste. Their approach could inspire traditional fashion houses to embrace digital wearables as a sustainable, expressive alternative. With both brands already having experience of innovative collaborations and cutting-edge tech, this move positions them to lead a transformative moment for the industry.

3. Karl Lagerfeld returns to Pitti Uomo with an immersive "world of Karl" experience

What's happening: Future+ member Karl Lagerfeld has announced its return to the world’s leading menswear platform, Pitti Uomo in Florence, Italy, with an immersive presentation from January 14 to 17, 2025, celebrating the brand’s heritage and future vision.

TLDR:

• Karl Lagerfeld will be a key participant in Pitti Uomo, one of the most prestigious menswear events in the world, from January 14 to 17, 2025, in Florence, Italy.

• Its last presence at the event was back in 2016, with the exhibition “Karl Lagerfeld: Vision of Fashion” which explored the designer’s lesser-known photographer career.

• The brand will present “World of Karl”, an immersive experience that blends storytelling, custom decor, and bold, modern designs while honouring Karl Lagerfeld’s legacy.

• Pier Paolo Righi, CEO of Karl Lagerfeld, calls the event a meaningful opportunity to connect with current fans and inspire new audiences who share a passion for individuality and creativity.

• A special invitation-only event will take place on January 15, featuring a live acoustic performance by Victor Ray, a British singer and Karl Lagerfeld menswear ambassador.

• The presentation will spotlight Karl Lagerfeld’s iconic white shirts, a symbol of his signature style, along with pieces from the Fall-Winter 2025 men’s collection and selected womenswear designs.

• Guests will also preview Karl Lagerfeld’s Spring-Summer 2025 campaign, starring TikTok phenomenon and model, Calum Harper, the emerging face of the brand.

Why it matters: Karl Lagerfeld’s return to Pitti Uomo is a significant moment for the brand, blending the timeless legacy of its founder with forward-thinking approach. As one of the leading menswear platforms, Pitti Uomo provides an ideal space for the brand to connect with loyal followers and reach new audiences.

4. Universal Music Group and WPP partner to revolutionise music-driven marketing

What's happening: Universal Music Group (UMG) and WPP have partnered to offer WPP clients enhanced access to UMG’s music catalog, artists, and cultural insights, aiming to create innovative campaigns - putting music in the heart of brands’ strategies.

TLDR:

• UMG and WPP are joining forces to give brands more direct access to UMG’s music catalog and roster of artists.

• WPP clients will benefit from UMG’s global data and insights team to identify cultural trends and connect with audiences.

• The partnership creates new commercial opportunities for UMG’s artists, helping them to engage with brands in innovative ways.

• Generative AI will play a key role, as the partnership explores how this technology can enhance brand and artist collaborations.

• Past collaborations, such as campaigns for the Coca-Cola Company—including the award-winning Coke Studio and Sprite Limelight—demonstrate the potential of marketing initiatives that seamlessly integrate music, storytelling, and technology.

• UMG’s roster, which includes global stars like Taylor Swift and Drake, along with its licensing agreements with platforms like TikTok, adds significant value for brands.

• This builds on WPP’s earlier partnership with Roblox, reflecting its growing focus on interactive and culturally relevant marketing opportunities.

Why it matters: This collaboration demonstrates a deeper integration of music, technology, and marketing, creating new pathways for brands to connect with culturally engaged audiences. With social platforms such as TikTok playing a major role in reshaping music discovery, WPP clients gain a competitive edge in staying ahead of trends. Moreover, the focus on generative AI underscores an exciting shift where technology is poised to redefine how brands interact with music and create more personalised campaigns.

5. Loro Piana Celebrates 100 Years with its first exhibition ever

What's happening: Loro Piana, the Italian luxury brand, is set to host its first-ever exhibition in Shanghai at the Museum of Art Pudong from March 22 to May 5, 2024, as part of its centennial celebrations. Recently, the brand has increased its engagement through activations, including a festive takeover at Harrods for Christmas, which featured seasonal workshops and curated experiences.

TLDR:

• Loro Piana will exhibit at the Museum of Art Pudong, marking the first luxury house collaboration for the museum since its opening in 2021.

• The retrospective will showcase the brand’s rich family history, craftsmanship, and heritage.

• Judith Clark is curating the exhibit, offering an immersive journey through archival visuals, artworks, and garments specially commissioned for the event.

• Shanghai, a key market for Loro Piana, holds deep significance for the brand, thanks to its longstanding partnerships with Chinese cashmere breeders who have been instrumental in preserving the heritage of cashmere. The exhibition highlights China’s pivotal role in shaping Loro Piana’s history and growth.

• This is part of a broader celebration of the brand’s 100th anniversary, including luxury books, high-profile collaborations, and global events.

Why it matters: Loro Piana’s choice of Shanghai reflects its deep connection with China and underscores the city’s growing prominence as a cultural hub for luxury brands. This exhibition celebrates the brand’s legacy in craftsmanship and innovation but also leverages a global platform to deepen ties with its Chinese audience. As the brand's first exhibition of its kind, it marks a significant shift in priorities, highlighting the growing importance of cultural engagement in luxury.