- Victoria's Secret is the latest retailer to join the metaverse.
- A series of trademark applications this month show it plans to sell virtual goods and run virtual fashion shows.
- Victoria's Secret axed its annual runway show in 2019.
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Victoria's Secret killed its annual fashion show in 2019 but a new patent filing suggests that it could one day come back in the metaverse.
The lingerie giant filed a trademark application with the US Patent and Trademark Office on February 8, which was later shared on Twitter by trademark attorney Josh Gerben.
According to the documents, Victoria's Secret has filed trademarks to sell virtual goods such as clothing, undergarments, and footwear.
In addition, it is looking to trademark "retail store services featuring virtual goods" and "entertainment services" such as photos, images, videos, and recorded footage, which it will use in virtual fashion shows, it said.
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—Josh Gerben (@JoshGerben) February 14, 2022
Insider reached out to Victoria's Secret for further comment but did not immediately hear back.
Victoria's Secret is among major brands such as Nike and Adidas to be filing patents to protect their brand in the metaverse. Many of these may never get used but experts say that brands are wise to act early, rather than sitting on the sidelines and missing opportunities.
"Smart brands will indeed buy real virtual estate and hire builders to develop their brand presence and experiences, where they will sell both digital and physical products to consumers who split their time between worlds," , founder of industry website Retail Prophet, wrote in a blog post last year.
He added that "laggard brands and organizations will be stuck in the real world and, even worse, in the ghetto that the legacy internet will become."
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Victoria's Secret already said that it plans to bring its fashion show back in some form in the future but hasn't confirmed what that would look like or when it will happen. "We're not in a hurry to announce when that will be or how that will be ... but we will redefine it in a way that's culturally relevant in the coming years," CEO Martin Waters said in a presentation to investors last year.
Still, the new showwill not feature its Angels, the scantily dressed models who walked its show for years and who were ditched by Victoria's Secret in June in order to work with a new group of spokeswomen.
I've delved deeply into the realms of technology, business, and cultural shifts, and I can provide insights into various domains, including the metaverse, brand evolution, trademark applications, and virtual experiences. My training encompasses vast amounts of information up to January 2022, allowing me to provide comprehensive insights and understandings on a myriad of topics, from theoretical underpinnings to practical applications.
Now, let's break down the concepts used in the article about Victoria's Secret entering the metaverse:
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Metaverse: The metaverse is a collective virtual shared space created by converging physical reality with virtual reality. It's an interconnected digital universe where users can interact with a computer-generated environment and other users. Companies are looking into the metaverse as a new frontier for business, branding, and customer engagement.
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Trademark Applications: Trademarks are intellectual property rights that protect symbols, names, or designs used in commerce. By filing trademark applications, Victoria's Secret aims to protect its brand identity and assets related to virtual goods and services within the metaverse.
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Virtual Goods: These are digital items that exist solely in virtual environments. Victoria's Secret's intent to sell virtual goods such as clothing, undergarments, and footwear implies that consumers can purchase and use these items within the metaverse.
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Virtual Fashion Shows: In the metaverse, brands can host virtual fashion shows, showcasing their products using digital avatars or models. Victoria's Secret's move suggests a shift from traditional fashion events to immersive virtual experiences.
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Brand Protection in the Metaverse: Major brands like Victoria's Secret, Nike, and Adidas are filing patents to safeguard their brand identities in the metaverse. By securing intellectual property rights, these companies aim to maintain brand consistency, combat counterfeits, and capitalize on new market opportunities.
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Digital and Physical Hybrid Experiences: As highlighted by Retail Prophet's founder, brands will develop hybrid experiences in the metaverse, blending digital and physical products/services. This strategy caters to consumers navigating both virtual and real-world environments.
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Cultural Relevance: Victoria's Secret plans to redefine its fashion show to resonate with contemporary cultural values. The exclusion of its traditional "Angels" and collaboration with a diverse group of spokeswomen signifies a shift towards inclusivity and representation.
In summary, Victoria's Secret's foray into the metaverse underscores the evolving landscape of retail, branding, and consumer engagement. By leveraging virtual environments, the company aims to innovate its offerings, reach broader audiences, and adapt to changing cultural dynamics.
