Article2023

Digital Revolution in Fashion Industry To What Extent Can Metaverse Become A Predominant Business-To-Customer Model in the Digital Era

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Digital Innovation in Industries Consumer Behavior in Brand Consumption and Identification Cultural and Historical Studies

Abstract

In the context of the wide-spread digitalization that we have witnessed, the fashion industry and companies need to redefine their business logics towards models incorporating virtual opportunities and benefits of Metaverse. The main purpose of the study is to identify how fashion companies develop their relationship with customers using Metaverse as a business model. The theoretical deliberation, based on critical literature review, was supplemented by empirical research conducted in a form of a case study based on two luxury brands, i.e. Balenciaga and Dolce & Gabbana. In conclusion it may be stated that luxury fashion brands may successfully adopt their business models to Metaverse undertaking a variety of business actions.

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