Chalhoub Group has invested in Boltable Studio, an Abu Dhabi-based Roblox design studio.
The group’s investment in Boltable Studio is a part of its strategy to integrate web3 and virtual retail into its business model.
It also aims to strengthen Chalhoub Group’s presence in the metaverse.
The two companies have collaborated in the past.
Prior to their partnership, Chalhoub Group and Boltable Studio collaborated on the virtual Roblox collection for french silverware brand Christofle.
Fifteen virtual items were created, which were sold over 120,000 times on Roblox.
The success highlighted the platform’s significant potential for the group, according to the group’s statement.
Through the partnership, the Group will aim to translate traditional luxury into the digital space to attract a new generation of consumers.
Chalhoub Group has additional partnerships in progress to introduce luxury brands to Roblox.
Shopping destinations of the future
Nick Vinckier, Director of Corporate Innovation at Chalhoub Group, commented on the Group’s move into the space, “These digital spaces are not just gaming platforms; they are the community centers and shopping destinations of the future, where we can connect with the customers of tomorrow, today.
“Partnering with a leader like Boltable Studio, renowned for their Roblox expertise and successful in-game brand Prince Clothing, aligns perfectly with our vision to be at the forefront of retail innovation.”
Zain Tambe, Founder and CEO of Boltable Studio added: “This partnership is more than an investment; it’s a fusion of Chalhoub Group’s luxury expertise with our innovative approach in Roblox, setting a new standard in virtual retail.
“Together, we’re not just entering the Roblox ecosystem; we’re redefining luxury retail for a new, digitally-savvy audience.”
Chalhoub Group’s virtual initiatives
In 2022, Chalhoub Group initiated its journey into the metaverse and Web3 by launching a collection of 529 exclusive NFTs for Christofle, which sold out in few minutes.
Following the success of the NFT’s, the Group introduced phygital sneakers for Level Shoes’ 10th anniversary celebration.
In 2023, Chalhoub Group continued its venture into the metaverse by launching a web3-native streetwear label SOL3MATES. .
