What happened
After going viral for its 42,000 phygital trunk earlier this year, Louis Vuitton is back with a miniature — and notably cheaper — version of its trademark accessory, designed exclusively by womenswear creative director Nicolas Ghesquière.
The house’s latest iteration, titled the ‘Via Tile Trunk’, will once again be sold in the form of an non-fungible token (NFT), and can later be redeemed as a physical version in March 2024. The piece is only available to those who already own Louis Vuitton’s first Treasure Trunk NFT, with only 200 available for €6000 (approx 6580) each. It is also the first time Ghesquière has contributed to a Web3 project from the brand.
Fashion revelers will recognize the tiny trunk after it debuted on the runway this September at Louis Vuitton’s Spring/Summer 2024 showcase. Featuring the maison’s “damier” motif, the case arrives with gold hardware details and a crossbody chain attachment.
The Jing Take
The drop arrives on the heels of Louis Vuitton’s exclusive Speedy 40 release in July, where 200 digital bags were made available to the brand’s NFT community in a special orange-hued colorway. Owners are expected to receive the physical counterpart, which was designed by menswear creative director Pharrell Williams and based on the original 1930’s Speedy Express, in January.
Louis Vuitton’s Web3 strategy is one to watch. Over the past 12 months, the brand’s investment in NFT-connected assets has propelled it to the forefront of cultural relevance, in a time where digital assets are gaining more traction.
It’s a similar playbook to that used by competitors like Kering-owned Gucci, who has employed NFTs as a “gateway” into its private Web3 club, where investors can acquire limited-edition, members-only collectibles.
To combat the volatile token market and to guarantee security, all of Vuitton’s virtual assets are soul-bound, meaning they cannot be sold on, flipped, or transferred. The brand has also appointed help from a number of Web3 experts and proponents to help flesh out its virtual roadmap, including Deadfellaz founder and CEO Betty and digital fashion and NFT collector Seedphrase.
The Jing Take reports on a piece of the leading news and presents our editorial team’s analysis of the key implications for the luxury industry. In the recurring column, we analyze everything from product drops and mergers to heated debate sprouting on Chinese social media.