TL;DR
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A few hundred select Louis Vuitton customers will be allowed to purchase a ~$42,000 ‘Treasure Trunk’ NFT, which cannot be traded or transferred once purchased.
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The NFT gives them a physical, custom Louis Vuitton case and gives them access to exclusive customizable products, early releases of new products, and bespoke experiences.
Full story
To us, the difference between “retail” and “luxury retail” is like the difference between “physics” and “quantum physics.”
Whole new rules apply.
Take, for example, this limited NFT series from Louis Vuitton…
A few hundred selected LV clients will be allowed to purchase a ~$42,000 ‘Treasure Trunk’ NFT, all of whom are ‘soul bound’.
(That is, they cannot be traded or transferred once purchased).
The NFT will provide them with a physical Louis Vuitton case made to order and give them access to:
Charging customers $42,000 for the option to pay you even more money in the future? That doesn’t seem quite logical to us.
… but hey – that’s luxury retail baaaaby!
Money is not a thing, and exclusivity is very valued.