default-output-block.skip-main
BoF Logo

The Business of Fashion

Agenda-setting intelligence, analysis and advice for the global fashion community.

Gucci Teams Up With Company Behind Bored Ape Yacht Club

The luxury house and Yuga Labs aim to explore the intersection of fashion and entertainment.
A digital ape hand holds a small bottle bearing the Gucci logo.
Gucci x Yuga Labs. (Gucci)

Gucci is strengthening its ties to web3.

On Monday, the luxury brand announced a multi-year partnership with Yuga Labs, the web3 company behind several well-known NFT collections including Bored Ape Yacht Club, CryptoPunks, Meebits and the narrative NFT project 10KTF. It also runs Otherside, a Bored Ape-themed virtual world and game.

The deal is meant to extend engagement between each company’s communities “by exploring the intersection between fashion and entertainment in the Metaverse,” they said in a release.

“We are excited to unveil this multifaceted partnership with Yuga Labs, a leader and creative pioneer in web3,” Robert Triefus, Gucci’s senior executive vice president, corporate and brand strategy, and chief executive of Gucci Vault & Metaverse Ventures, said in a statement. “This will give us an active role in Otherside and 10KTF’s continuing narrative, unfolding in multiple forms.”

Gucci collaborated with 10KTF last year for its Gucci Grail project, which entailed 10KTF’s “digital artisan,” Wagmi-san, crafting clothing and accessories used to personalise NFTs with the designs of Gucci’s then-creative director, Alessandro Michele.

“We’re looking forward to showcasing how that partnership extends to endless opportunities in Otherside,” Michael Figge, Yuga Labs’ chief creative officer, said in a release.

Gucci’s participation in Otherside is set to begin this week.

A cartoon version of an older gentelman stands in what looks like a tailor shop surrounded by Gucci clothing and accessories.

Triefus hinted at the news on stage last week speaking at the BoF Professional Summit: An Inflection Point in Fashion Tech. Gucci, he indicated, still sees a long-term opportunity in web3 for building community, encouraging customer loyalty and ultimately generating revenue. He described the early frenzy around NFTs as a “wild west” period and views the market’s downturn from its highs in late 2021 as a “correction.” Now it’s in a more sensible place, he added, and Gucci would capitalise on the expertise of creatives through strategic partnerships.

Yuga Labs was founded in 2021 and created Bored Ape Yacht Club, which grew into one of the most successful NFT projects. It later acquired the rights to CryptoPunks, Meebits and 10KTF. Last March it raised $450 million at a valuation of $4 billion.

Further Reading

The reasons some fashion NFTs are successes and others fall flat goes beyond having big, recognisable brands involved and comes down to factors like their creativity, audience and value for the price.



About the author
Marc Bain
Marc Bain

Marc Bain is Technology Correspondent at The Business of Fashion. He is based in New York and drives BoF’s coverage of technology and innovation, from start-ups to Big Tech.

In This Article

© 2024 The Business of Fashion. All rights reserved. For more information read our Terms & Conditions

More from Technology
Analysis and advice on how technology is disrupting fashion and creating new opportunities.

The social-media giant is making it easier for users to find inspirational images of people with similar hair, skin and body types as them, helping it attract Gen-Z consumers who are using shopping features on the platform at a higher rate than any other group.



Join us in New York on March 22 at our upcoming BoF Professional Summit – New Frontiers: AI, Digital Culture and Virtual Worlds to hear Jonathan Bottomley, Calvin Klein’s global chief marketing officer, in conversation with BoF’s Imran Amed. Together, they will unpack the strategy behind Calvin Klein’s latest campaign, and share how brands can successfully create a cultural conversation amongst the constant noise on social media.


view more

Subscribe to the BoF Daily Digest

The essential daily round-up of fashion news, analysis, and breaking news alerts.

The Business of Fashion

Agenda-setting intelligence, analysis and advice for the global fashion community.
CONNECT WITH US ON
BoF Professional Summit - New Frontiers: AI, Digital Culture and Virtual Worlds - March 22, 2024
© 2024 The Business of Fashion. All rights reserved. For more information read our Terms & Conditions, Privacy Policy, Cookie Policy and Accessibility Statement.
BoF Professional Summit - New Frontiers: AI, Digital Culture and Virtual Worlds - March 22, 2024