The augmented and virtual reality opportunity for luxury – Vogue Business

This article is a sponsored feature in partnership with Facebook.

Facebook held a recent conference on the potential of virtual and augmented reality for luxury. Some 50 luxury C-level executives, joining from five cities, were invited to a VR reproduction of Hacker Square, Facebooks headquarters in Menlo Park, California, on 27 May using Facebooks headset the Oculus Quest 2.

The goal of the conference: to show luxury executives the power and potential of augmented and virtual reality, which Facebook is investing in, and give them the opportunity to virtually connect after a year of social distancing. The one-hour event was a mix of presentations, 360 videos and talks, in the setting of a movie theatre or of an ancient location in Italy. The programme included a fireside chat with Alex Himel, VP at Facebook Reality Labs joining from California, and a conversation with Dominik Gruber, marketing director of Porsche France.

Facebooks luxury team showcased examples of how VR enables clients to attend a fashion show, visit an atelier or a historic site restored by a brand from the comfort of their homes, thus redefining access. One example: fashion insiders received Oculus headsets for the Autumn/Winter 2021 Balenciaga show held in November 2020. The experience allowed guests to turn to people around them and study their body language and wardrobe, Facebook global luxury industry manager Violaine Gressier noted, therefore breaking the barriers between the digital and physical world. A different approach to VR came from Prada, which created a 3D video detailing the brands heritage and craftsmanship, with VR creating a more immersive experience than simply watching a video.

VR is at an inflection point, said Himel. Its getting more social: multiplayer games are booming, fitness is becoming a new vertical, people are starting to imagine how to use VR as a work device. And of course, all of that activity means VR developers are able to make money. Its being used to speed up collaboration in design teams; train surgeons; NFL quarterbacks or different athletes use it to prepare for games. In the future, we believe VR can fundamentally change the way we work.

Across the board, technology companies including Facebook are investing more in tools to help brands sell on their platforms, and help customers shop there as well. AR, one of the areas explored by Facebook Reality Labs, blends real and virtual worlds and is rolling out to home decor and clothing after wide adoption by beauty and automotive brands using virtual try-on and immersive customisation features. Facebooks Spark AR platform enables creators, brands and developers to create AR effects for Facebooks ecosystem including Instagram, WhatsApp and Messenger. Some 600 million people are already using AR across devices, Himel said. Some success stories were shared: Louis Vuitton accompanied its collaboration with popular esport League of Legends involving virtual and real clothes with a campaign using AR, with big success: 6.1 million impressions, meaning try-ons and views, for its AR Stories.

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The augmented and virtual reality opportunity for luxury - Vogue Business