FTX Steps Into $300B Luxury Fashion Industry Through A New Hire
One of the leading crypto exchanges FTX has named beauty entrepreneur Lauren Remington Platt as its head of global luxury partnerships – a position created for her.
Platt is the founder of Vensette, an on-demand beauty company where she created partnerships with leading fashion brands including Michael Kors, Vogue, and Saks 5th Avenue.
The CEO and Founder of FTX, Sam Bankman-Fried commented in a statement:
“We are thrilled to have Lauren join FTX and lead our next marketing foray into luxury partnerships. Her wealth of experience in the fashion and luxury space will be essential for the next phase of growth of our team’s partnership and branding focus.”
Platt is tasked to introduce crypto into the fashion and luxury industries through partnerships within areas such as payments, luxury goods authentication, and digital art. She will work closely with FTX’s head of environmental and social initiatives Gisele Bündchen.
With the new hire, FTX aims to capitalize on a $300 billion luxury goods market, which is estimated to grow by almost $34 billion by 2025. Due to covid, many industries, including fashion and beauty brands have been flocking into the crypto space as the pandemic has forced people out of brick-and-mortar stores and into online and digital experiences. This month alone, several brands, such as Victoria’s Secret, Urban Decay, L’Oreal, Kiehl’s, Pink, and Dermablend,have filed for metaverse-related trademarks.
Platt commented in a statement:
“Only 7% of women are investing in cryptocurrency, and that not only has financial implications but long-term societal effects. Only 9% of women feel they understand crypto, and this means that the majority of women are being left behind from one of the most important opportunities for wealth creation of our generation. To achieve true gender equality, we must invite women to the conversation and provide the tools they need to lay claim to crypto’s ascension.”
FTX is moving fast to expand its reach in various industries. Earlier this week, the exchange launched a new gaming division to integrate NFTs and blockchain-powered collectibles into gaming.
