Alo Yoga launches its first ready-to-wear collection, NFT, at New York Fashion Week

Dive card:

• Direct-to-consumer athletic brand Alo Yoga launched its first ready-to-wear collection for the holidays at New York Fashion Week on Saturday, according to a press release shared with Retail Dive. The event allowed attendees to try on the new clothes via AR mirrors powered by Snap.
• Called the Aspen Collection, Alo Yoga’s latest capsule is inspired by winter sportswear and luxury, according to the release. It includes floor-length faux fur jackets, ski suits, ribbed cashmere sets and more, with prices ranging from $54 to $1,425.
• The brand also released its first non-fungible token based on the collection through a partnership with Web3 company MoonPay. Customers who purchase from the new collection will receive the authenticated NFT, which comes with exclusive benefits such as personalized shopping experiences and access to Alo Wellness Clubs.

Diving Insights:

As it expands its product offering, Alo Yoga has joined the trend of retailers linking NFTs to real loyalty benefits. Aspen Collection offers a new type of incentive for customers who want to get exclusive benefits.

“Being able to try the collection in real time via AR, and receive an immutable certificate on ownership not only elevates the buying experience, but also elevates authenticity, transparency and safety for our products and creates the building blocks to provide longevity value and rewards to our most loyal customers,” Angelic Vendette, vice president and chief marketing officer of Alo Yoga, said in a statement.

The brand’s technology-driven New York Fashion Week event adds to its list of digital initiatives. Alo Yoga started accepts cryptocurrency as payment online in June and allows employees to receive all or part of their payslips in the currency. The DTC dealer too partnered with Roblox in February to open its virtual Alo Sanctuary, where visitors could receive a digital yoga mat to attend meditation retreats.

NFTs are increasingly being linked to exclusive benefits for brands. The sports brand Puma is the same launches NFTs through a metaverse experience at NYFW this year that can be redeemed for limited-edition physical sneakers. Prada announced plans in June to carry out monthly product drops which includes NFTs for customers to access exclusive benefits. Luxury jewelery brand Tiffany released 250 limited CryptoPunks NFTs to customers in August, which came with matching necklaces based on the NFT designs.