If you want to say what is most interesting in the eyes of contemporary young people, it is to open the blind box, the so-called no blind box, unhappy, blind box has obviously become one of the hot objects of Z generation young people.
Representative of the Gen Z blind box: POPMART
Image source: popmartglobal
There is a saying in the movie "Forrest Gump": "Life is like a box of chocolates, you never know what kind of surprise you will get." When you talk about blind boxes, the first thing that comes to mind must be Bubble Mart, the kind of uncertainty that comes with small blind boxes, sucking up a lot of money from the young people of Generation Z. With the increasing market heat of blind boxes, luxury brands are also seeking "big business" from this "small box".
Founded by two young Generation Z people
Luxury blind box platform Heat
Image source: heat
On January 13, luxury blind box platform Heat announced the completion of a $5 million seed round, led by LVMH Luxury Ventures, a luxury venture capital fund owned by French luxury group LVMH, as well as venture capital firm Antler, and even the Hermès family.
Why are LVMH and Hermès optimistic about the blind box economy?
Image source: multiple sources
As we all know, since the beginning of 2022, many luxury brands including Louis Vuitton, Chanel, Hermès, Celine, Dior, Gucci, Rolex, etc. have announced price increases, and perhaps even if the price increase in these luxury goods can have good sales, but there will still be those seasons that are not selling well and remain in stock, Heat was born for this purpose.
Even if the price rises, luxury goods still have a large number of loyal fans
It is no exaggeration to say that luxury brands value the ability to clear inventory in the form of blind boxes. Co-founded in 2019 by two Gen Z young people, Joe Wilkinson and Mario Maher, Heat, a digital shopping platform, launched the streetwear blind box HEATBOX, which sells out-of-season luxury goods or their inventory as blind boxes.
Sure enough, Gen Z knows Gen Z better
HEATBOX currently has two luxury blind boxes at different price points, with a gray icon for $400 and containing 2 to 3 luxury items, with a market value of about $675. The blue icon blind box sells for $675 and contains 2 to 4 items, with a market value of around $1200.
Luxury blind boxes are more exciting, to gamble?
Since its inception, Heat has sold more than 20,000 blind boxes, 100,000 pieces, and its cooperative brands include Haider Ackerman, YEEZY, Off-White, LOEWE, Balenciaga, Saint Laurent, Celine, Palm Angels, AMBUSH and more than 60 brands, and lvmh is about to become one of them. To date, Heat has more than 620,000 followers on Ins, nearly 112,000 followers on TikTok, and their blind box unboxing videos on YouTube and some gaming communities are also popular.
Fun and playful heat blind boxes are helping luxury goods avoid waste
In fact, LVMH isn't the first company in the fashion industry to target blind boxes. As early as tanabata in 2020, LANVIN launched the blind box lottery, and in this blind box event of LANVIN, it attracted 50,000 players to participate in a month, and the popularity also surpassed any previous event.
The sale of blind boxes gave LANVIN a taste of sweetness
Image source: Lanvin
Attracting the "high cold" fashion giants in the past to participate in this "blind box game" is the consumer group of The Z generation, they love the exploration of the blind box, they have become the main force of the current blind box economic consumption, but also because of this they have become the object of luxury brands cutting leeks.
Is the heat luxury blind box really worth it?
We all know that the luxury blind box is to clear the inventory, but even this still can't withstand the young people's feeling of "going up" to open the blind box. Chanel launched a price of 6,000 yuan, known as the "global limited edition of 1,000 sets" of the "blind box" set attracted a number of young people to consume, but in the end the fashion giant Chanel still gave young people a lesson, "Chinese do not cheat Chinese" in people's homes it does not work at all.
Chanel 2021 Christmas Limited Calendar Set
Image credit: HHHVicky
I don't know when, the blind box has become a form of goods, known as the Louis Vuitton genuine bag removed from the card, keychain, bracelet, necklace, card bag and other items in the "blind box" under the packaging has become a hit, the price of about 100 yuan "Louis Vuitton blind box" is so, Louis Vuitton official did not launch a similar blind box, but some merchants of spontaneous sales behavior, unofficial production can reach a hot level, It is not difficult to see the temptation of blind boxes for young people.
At present, most of the luxury blind boxes in China are the majority
None of them are officially launched by luxury brands
Image source: lisaslvlove
"Everything can be blind box", blind box has successfully become the "language" of contemporary young people's communication, it seems to be an emerging consumption model, but in fact, its principle is similar to the early rise of Japan's Fukubukuro, merchants attract consumption by stimulating consumer curiosity.
Every year BAPE introduces the New Year's Blessing Bag
Image source: bape
In the luxury blind box platform Heat here, the seasonal luxury goods can enjoy discounts which is already attractive enough, and the formation of blind boxes for sale, to those who are not interested in luxury goods add a touch of mystery, the price of the discount + blind box play has become the Z generation young people can not resist it reason.
Those who like luxury blind boxes may wish to rush the HEATBOX
Traditional luxury goods stepping into the blind box field seems to be luxury goods to let Generation Z taste the sweetness, in fact, for themselves not only solve the serious inventory problem, but also pull into the distance with young people, promote young people to consume luxury goods.
Young people's love for blind boxes doesn't stop there
Major brands frequently try the "blind box" this new form of sales, for the blind box this "business economy" luxury brand has long seen through. Luxury blind boxes are actually what merchants and Z generation young people need, so how high do you expect luxury goods to enter the blind box field?
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