Dive Brief:
- Syky, a platform meant to support brands that want to sell digital and physical versions of luxury products, is rolling out a fashion incubator for digital designers, the company announced Tuesday.
- A cohort of 10 designers, called the Syky Collective, will undergo a yearlong program including mentorship and lessons focused on growing business. The cohort will also learn about Web3 technology, which is centered on using blockchain to change how information is digitally stored and shared on the internet.
- The digital fashion initiative has garnered support from the upper echelons of the fashion industry. Mentors include Jonathan Bottomley, the chief marketing officer for Calvin Klein, and Mark Guiducci, creative editorial director at Vogue.
Dive Insight:
Syky was launched in 2022 to bridge the gap between the digital world and luxury fashion. It was founded by Alice Delahunt, who cut her teeth as the chief digital and content officer at Ralph Lauren and as the global digital and social director at Burberry.
So far, the platform has garnered some investor interest, raising nearly $10 million earlier this year. Seven Seven Six, the investment firm created by Alexis Ohanian, Reddit’s co-founder, led the round.
The platform focused on digital tokens during its early days, releasing an exclusive NFT, called “Keystone,” that gives holders access to a membership space and exclusive drops. Syky set aside 50 of the limited-edition NFTs for designers.
In a statement, Delahunt said she believes the Syky Collective will become the springboard for new luxury fashion houses to emerge and help decentralize the industry.
“We believe that the next generation of major luxury houses are designing in digital worlds today,” Delahunt said.
Executives from traditional luxury brands aren’t the only ones supporting the initiative. Mentors include Megan Kaspar, founding member of Red Dao, a collective committed to investing in digital fashion; Matthew Ball, CEO of investment and advisory firm Epyllion and author of essays on the metaverse; and Sabine Le Marchand, partner at creative agency Frosty.
Participating designers will launch their collections on the Syky platform, which will debut in the coming months, according to the news release. Syky also announced the cohort will be able to collaborate with top luxury brands, though it did not specify which ones.
The cohort will also have access to curriculum from the British Fashion Council.
“We are excited to work with the SYKY collective to focus on the evolution of the possibilities for the fashion industry, provide education for designers, engage with new audiences, create and build experiences and explore what's next,” Caroline Rush, the British Fashion Council’s CEO, said in a statement.
