PLEIN PLAZA

Philipp Plein confirms its long-standing commitment to the digital world and to new technologies and announces the successful completion of the purchase of a large plot of land in Decentraland, the first ever virtual world owned by its users in the Metaverse. The acquired real estate is situated in a prime location directly overlooking one of the Genesis Plazas, framed and accessible from two roads. It has a size of 65 Decentraland parcels (the equivalent of approximately 16,4 thousand sqm in the real world) and has been acquired by the Plein Group for a price of 510 MANAs (the Decentraland’s own cryptocurrency) corresponding, as per the transaction date’s exchange, to approximately 1,4 million USD. The estate will be called PLEIN PLAZA. Future developments planned by the Plein Group in the purchased real estate will include luxury retail stores, entertainment, an art museum, an hotel and luxury residences.

The transaction has been closed by Plein Group under the alias Bug$ Bunny with the assistance of the famous blockchain, NFT and metaverse expert Jason Rosenstein, founder and CEO of the NFT auction house and marketplace Portion, which will also be involved in the conception development and planning of the PLEIN PLAZA together with the renowned digital artist Antony Tudisco. The Plein Group has also made known that it plans to include a real world’s archistar in the team in charge of said conception, development and planning of the PLEIN PLAZA. Whereas several luxury brands have already created NFTs of their products for sale in the Metaverse, the purchase of real estate in the Metaverse by a luxury brand is still an unprecedented move which, once again, qualifies PHILIPP PLEIN as a first mover of the luxury industry towards the digital world. A consistent pattern of strong connection between fashion and digital that reverberates on many aspects of Philipp Plein business and creativity. In fact, six months ago Philipp Plein made the headlines as the first luxury brand to accept crypto-currencies as means of payment. Today the Plein Group accepts over 20 different cryptocurrencies in both its brick-and-mortar stores and on its e-commerce platform. This platform, in particular, relative to the size of the Philipp Plein business is one of the best performing directly developed and operated e-commerce system in the luxury industry and, in 2021, generated the record turnover of 100 million Euro. Finally, the
last digital fashion shows of the maison have marked a further milestone of its exploration of new technologies. The first luxury brand to work with Antony Tudisco, Philipp Plein has used these digital fashion shows to project its brand in a new, fantastic virtual world populated by glossy and racy creatures. Now the Plein Group continues its journey of innovation and steps into the Metaverse where it plans to bring the best practices and the creativity that made the success of PHILIPP PLEIN in the Real Universe. Stay with us.