A Sustainable Fashion Industry Business Model Revolution Based on the Metaverse: Practices and Reciprocal Processes

Abstract

The technological breakthrough of the metaverse makes it accessible as an online social environment where customers can socialize and reside in the form of avatars, as well as able to possess virtual property in the same manner they own physical property. The incorporation of the fashion industry into the metaverse can contribute to the development of its sustainability by revolutionizing the design, production, and communication stages of the supply chain, enabling circular economy business models, and minimizing environmental damage while satisfying customer needs. Through a review of relevant theoretical literature and an analysis of practices, this paper intends to illustrate a mechanism, describe how digital fashion based on the metaverse benefits industry sustainability, consumers, and the environment, and serve as a reference for practitioners seeking to advance their business strategies.

Marketing Mix Strategy in the Metaverse: The Luxury Brands Case Study

“…Gucci built the virtual world Gucci Vault Land on this basis. As part of the Web 3.0 strategy, the project brought more new virtual experiences to the brand's Metaverse community [7].…”

What Can we See Inside the Crystal Ball? Exploring Opportunities and Challenges for Metaverse and Circular Economy

“…As the Metaverse continues to evolve, it can serve as a valuable tool that can help promote a circular economy in practice. One of the most important factors that can be considered when it comes to promoting a circular economy for reducing its environmental impact (Yan, 2022). It is therefore important that the industry takes the necessary steps to reduce its greenhouse gas emissions and other harmful effects.…”

A.I., Fashion Design and the Law

“…Designers, through their methodologies and practices, are the main vector of Made in Italy: they engage in processes that can foster a dialogue between artistic exploration and design application, paying particular attention to bodies, identities and our collective memory, rooted in our cultural heritage, landscape and knowledge of craftsmanship. At the same time, they seamlessly integrate technological innovation and industrial know-how (Vaccari & Franzo, 2022;Frisa, 2020). This synthesis of knowledge contributes to the appeal of the 100% Italian product.…”

“…Admittedly, condensing a taxonomy such as that presented in [Fig. 04], which typically categorizes the world's two hundred or so legal systems using the notion of legal transplants (Watson, 1974) related to Western colonization, results in a highly compressed summary. What's more, this concise account does not provide further details and distinctions, such as the differences between civil law systems and Anglo-American common law systems, between customary rights and those rooted in religious beliefs, such as, for example, the law within the Islamic tradition.…”