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Over the past decade, many companies operating in the fashion industry have realised the potential value of collaborating with the gaming industry. This has helped major fashion brands expand their reach and increase their annual revenue significantly.
On this page, we will be taking a quick look at why the fashion and gaming industries continue to collaborate with each other and reveal three of the hottest collaborations between both industries.
Why does the fashion industry collaborate with the gaming industry?
The number one reason why some of today’s biggest fashion brands have collaborated with companies operating in the gaming industry is to create a new revenue stream.
The global multi-billion-dollar gaming industry market is rapidly growing, and the fashion industry’s biggest brands have found that collaborating with gaming companies unlocks new revenue streams via in-game purchases of virtual goods.
Market-leading gaming platforms, such as Fortnite and Roblox, have a huge reach among younger demographics, including Millennials and Gen Z, who also appear to be significant consumers of luxury fashion items.
Collaborations with gaming companies have increased awareness of major fashion brands and raised their global profiles thanks to significant exposure among the wider gaming community.
What are the three hottest collaborations between the fashion and gaming industries?
Three of the most successful collaborations between the fashion and gaming industries in recent years that have generated the most revenue are the following:
- Fortnite and Ralph Lauren
Other collabs that you may already be familiar with by now are Roblox and Vans, Fortnite and Balenciaga, Louis the Game and Louis Vuitton, Animal Crossing and H&M, Roblox and Tommy Hilfiger.
These collaborations haven’t yet hit the iGaming industry, a term used to describe websites home to thousands of online slots, classic table & card games, and live dealer games from various multi-award-winning software providers and game development studios.
However, experts who follow both industries closely project that we could one day see similar collaborations between fashion and iGaming.
For example, some of the likeable characters that we find in these games may soon be seen wearing major fashion brand items and accessories, or the live dealers who present the action to players might start wearing branded clothing items that people can purchase while playing their favourite games.
Which other major fashion brands have collaborated with the gaming industry?
Major companies like Dolce & Gabbana, Nars, Gap, Jimmy Choo, Prada, Tiffany, Clinique, Adidas, Levis, and countless others have also recently collaborated with various major gaming platforms, which has given players a unique digital space to purchase fashionable items.
NFTs (Non-Fungible Tokens), for example, such as skins, avatars, sports memorabilia, and various other fashion items and accessories (also known as digital assets), have started appearing in games and metaverses, which players can own by making in-game purchases.
An NFT comes with hidden non-interchangeable units of data, which are stored on a digital ledger, and have become an important tool for both the gaming and fashion industries in hit titles like Axie Infinity, Alien Worlds, The Walking Dead: Empires, Illuvium, Splinterlands, Gold Fever, Gods Unchained, and Battle Racers.
Final thoughts
As metaverses continue to grow, these gaming platforms are becoming more essential entry points for major fashion brands to establish their presence in the digital realm so they can tap into newer audiences to expand their reach.
These days, online gamers can express their digital identities [and personalities] through in-game avatars, and more gamers than ever are willing to purchase digital fashion items and accessories, which has created a unique new market for the world’s biggest fashion brands.
Over the coming years, we will likely see even more of these fashion-gaming collaborations, bringing real-world fashion items into the games we love playing. Innovative partnerships like these also create limited-edition fashion items, which helps drive demand and fuel the growth of both industries.
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