Metaverse and luxury fashion brands: Why luxury fashion brands are expanding their business into the Metaverse?

The rapid incursion of luxury brands into the metaverse raises critical questions regarding the preservation of their unique characteristics such as codes, values, and identity. This research explores the issue: "Do the reasons and objectives that compelled luxury brands to incorporate themselves into the metaverse guarantee the preservation of these brands' codes, values, and identities?" Through a series of in-depth interviews with representatives of luxury brands and metaverse professionals, this study qualitatively analyzed the opportunities, challenges, and future trends of luxury integration into the metaverse. The findings show a consensus among respondents on the metaverse's potential to offer unique opportunities while preserving the essential characteristics of luxury brands. Despite identified challenges, including issues of sensation, authenticity, and maintaining exclusivity, all respondents see a promising future for proper integration and adaptation. The research concludes that the intersection of the metaverse and luxury brands is a newly emerging field, with scant pre-existing research. It underscores the importance of continued study of this intersection to fully understand the implications for brands, consumers, and the luxury industry as a whole.