2022 Luxury Innovation Summit and Awards, a success story - marks a beginning of a new era!

The Luxury Innovation Summit (Geneve, October 20, 2022) is the ultimate event for the luxury sector, which gathers to showcase and award the best new creativity, innovations and sustainability concepts from the community and discuss the next generation of the luxury and fashion industry.

Certilogo founder and CEO, Michele Casucci was a guest contributor on two of the panel discussions that deliberated the key topics which provided the foundations of the event's two-day agenda; Contemporary technological trends and sustainability.

Michele Casucci and other innovators from the world of tech and luxury, exchanged their expert opinions on how luxury can best harness the latest trends including NFT, Metaverse, AI and blockchain, while a second panel focused on how brands can embrace and facilitate innovation to redefine luxury and shape it into more sustainable growth models.

As luxury brands rush to embrace the concept of dematerialisation, and the volume of purely digital fashion goods sold in the metaverse continues to grow rapidly - to maximise the potential of this new opportunity, there was resounding consensus that there is the need to connect the physical with the digital world and allow products to pass seamlessly in both directions between the two.

Consumers that have invested in physical luxury items will want to be able to take them with them when they enter the metaverse. Likewise, NFTs that are bought and traded will be given added value when they can be easily transferred out of the metaverse in exchange for physical products and services. The NFTs could be used to securely presell collections which are only put into production once the quota has been reached, ensuring that only the exact number of products and sizes required would be manufactured, creating an opportunity to greatly reduce unnecessary waste. This ability to port products between the real and digital dimensions will require product passports with a certified unique point of origin and secure authentication for all relevant stakeholders, most importantly consumers.

Michele Casucci shared the outcomes of a recent Certilogo consumer survey which reinforces the need for brands to involve the consumer more directly to reduce the industry’s social and environmental footprint. The consumer is demanding concrete actions that they can adopt to establish a more responsible relationship with luxury and fashion. The industry is strongly aligned on the need to prolong the life of the product and make it easily repairable, transferable, and simple to return to the brand for recycling at the end of its useful life. All of these are services that products with secure digital identities can deliver with ease.

The event was characterised by a strong sense of positivity and an underlying spirit of collaboration.

While there are many beneficial reasons to build commercial collaborations with the tech space, as the luxury sector seeks to carve out a place in the metaverse, my belief is that the luxury sector, should go beyond and aspire to take a more active role in actually shaping what form the metaverse and web 3.0 will take. This space is still nascent, and as yet is a long way from being defined. We have an opportunity to build something extraordinary and I believe the tech sector and metaverse can benefit from the experience, skills and values that the luxury community brings, to create something positive, and maybe help avoid some of the pitfalls that have emerged in web 1.0 and 2.0.
Michele Casucci, Founder & CEO, Certilogo.

Certilogo is proud to support the Luxury Innovations Summit, as a premium partner of this, the 4th edition of the event which took place on the 19th and 20th of October 2022, in-person at the Bâtiment des Forces Motrices, online and in the Metaverse.