The Unlikely Rise of the ‘MetaBirkin’

Chanel Names Fashion Outsider as CEO, Product Passports Explained

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WHAT YOU NEED TO KNOW TODAY: WEDNESDAY, DECEMBER 15, 2021 The success of unsanctioned virtual replicas of Hermès' iconic Birkin bag points to profit-making potential and intellectual-property issues in the virtual fashion market. Chanel has named Unilever HR chief Leena Nair its new global CEO, signalling a growing focus on people and values. In a bid to boost authentication and sustainability, brands will adopt new technologies, or "product passports," that store and share product information, according to The State of Fashion 2022 report by The Business of Fashion and McKinsey. Aura Blockchain's Daniela Ott is persuading big brands to work jointly on shared digital platforms that create "product passports" for luxury goods.

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TECHNOLOGY What 'MetaBirkins' Say About Virtual Fashion By Marc Bain

Neither by Hermès nor real handbags, the luxury NFTs highlight both profit-making potential and intellectual-property issues as money pours into the fast-growing virtual fashion market. READ MORE

LUXURY Who Is Chanel's New Global CEO? By Chantal Fernandez and Robert Williams

The French luxury giant has appointed Unilever human resources chief Leena Nair to lead the business in a time of transformation. 'Human capital is as important as financial capital,' she said in an interview with Time in May. READ MORE

TECHNOLOGY Aura Blockchain's Daniela Ott on Persuading Luxury Rivals to Join Forces on Product Passports By Marc Bain The leader of the Aura Blockchain Consortium is tasked with persuading big brands such as LVMH, Prada and Richemont-owned Cartier to work together on the shared digital platform that creates 'product passports' for luxury goods. READ MORE

TECHNOLOGY The Year Ahead: What Product Passports Will Do for Brands By BoF Team and McKinsey & Company Brands are adopting new technologies that store and share product information to improve authentication, provide transparency and boost consumer trust. However, for "product passports" to truly gain traction, businesses must coalesce around common standards and engage with pilot projects at scale. READ MORE

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