Fashion, Luxury and Innovation in China: An Analysis of The Chinese Metaverse and Its Applications in The Retail Industry

Abstract

This thesis discusses the rise of the Metaverse in China and the potential benefits for luxury brands, and it analyses the strategies deployed by Dior, Gucci and Burberry. While “Metaverse” is the most popular buzzword today, there is still a knowledge gap about its nature; however, it is poised to be the Internet successor. The first chapter analyses the concept of Metaverse and how it has evolved through continuous technological improvement. A particular attention is paid to the current state of the Metaverse in China. The second chapter delves into China's Metaverse ecosystem with a focus on retail applications for luxury brands. This section highlights the key technologies that can be leveraged on in this sector, including XR devices, virtual influencers and digital collectibles. Finally, the third chapter analyses the strategies adopted by Dior, Gucci and Burberry. Each brand harnesses different technologies to achieve specific business objectives: branding, engagement, and conversion.