Viva magenta, a red tone, will encourage optimism and allude to the rise of the virtual world as well as technology such as artificial intelligence in the months to come, Pantone said in a statement.

“We are creating a dynamic world that encourages experimentation, one that leverages the virtual within the physical realm and emboldens our strength and spirit to explore groundbreaking possibilities,” said Laurie Pressman, vice president of the Pantone Color Institute.

The release of the colour is accompanied by an immersive experience called the “Magentaverse,” a collaboration between Pantone and ARTECHOUSE, an art exhibit space. It will be on display in Miami starting December 3 as part of Art Basel Miami Beach.

Learn more:

From Tiffany Blue to Louboutin Red: The Power of Owning a Colour

Just a handful of luxury stalwarts are so synonymous with a colour that consumers can instantly equate the shade with the name. So, how does a brand own a tone, and should smaller labels try?