Warner Music reveals DressX investment, partnership for artists' virtual fashion lines
Warner Music Group announced on Thursday a new investment in DressX, in addition to a partnership with the digital fashion company that will see select artists of the music label design their own virtual fashion lines.
WMG did not disclose the DressX investment amount
Under the partnership, WMG artists will be able to collaborate directly with DressX to design and launch 3D and AR virtual clothing that fans can collect and share across Instagram, Snapchat, and other platform partners. The deal will also allow artists to unlock new revenue streams, while creating additional outlets for fans to showcase their fandom across multiple digital worlds, according to a press release.
"The representation of our future digital selves will be as important and, if you're measuring by sheer volume of interactions, maybe more important than how we represent ourselves physically," said Oana Ruxandra, chief digital officer and EVP, business development, WMG.
"As our digital identities become exponentially more robust and impactful, we are focused on building partnerships that will enable WMG and our artists. With its leadership in wearables and sustainability, DressX is exactly the type of partner we need sprinting alongside us as we build for the future."
Launched in 2020 by Daria Shapovalova and Natalia Modenova, DressX has become the largest platform for digital-only fashion, with more than 3,000 digital items available in the DressX library, and is the largest AR fashion app on the market.
"We are extremely proud to partner with Warner Music Group and their incredible artists to continue building and scaling the DressX meta-closet vision for the future," said Daria Shapovalova and Natalia Modenova, co-founders of DressX.
"Digital fashion is a visual language for communicating and creating bonds online, and at DRESSX we use technology to provide the utility for digital wearables using augmented reality, machine learning, and blockchain. Digital merch and swag from musicians will definitely be a part of the digital wardrobes of fans, and it's great to see that more and more stakeholders believe in this new domain that is already changing the fashion industry at a scale. Every day, we are getting closer to our aim of giving a meta-closet to every person in the world, making fashion accessible to everyone through innovation and tech," added the DressX duo.
In the last two years, DressX has partnered with leading tech, fashion, and lifestyle companies, including Meta, Roblox, Snapchat, Google, Coca-Cola, Farfetch, and more.
Most recently, DressX partnered with Inditex-owned brand Bershka for the second time for the launch of its 'Digital Going Out' holiday collection, consisting of four digital items.
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