Female Gen-Z Opps: Forever 21 to launch metaverse storefront under new CMO (Score 77)
Forever 21 (F21) will soon debut a metaverse storefront, created in partnership with Tokens.com. The storefront's doors will open in Decentraland's Fashion District during Metaverse Fashion Week (March 24-March 27). Additionally, F21 will collaborate with Tokens.com's subsidiary, Metaverse Group, on NFT wearables and an immersive storefront. This is F21's latest in a history of efforts designed to reach Gen-Z; sellers able to offer high-ROI strategies among this audience should get in touch soon to secure last-minute ad dollars promoting the upcoming launch.
So far this year, Pathmatics reports F21 has spent roughly $1.9m on digital ads, down 21% from the roughly $2.4m it spent within the same 2021 timeframe. In 2021, the company's estimated full-year spend jumped 60% to $9.9m from that of $6.2m in 2020. F21 has earned ~234.8m digital impressions YTD via Instagram (74%), Facebook (25%) and desktop display (1%) ads.
Hopefully, spend will pick back up soon to support the upcoming metaverse opening. F21 tends to target Gen-Z women via digital channels such as paid social and OTT. According to Kantar data, the company also invests in print media via local magazines.
Agency & martech readers - It hasn't been long since global chief marketing and brand officer Amondo Redmond joined in September 2021, so you may still have a shot at securing work. Agency Within is currently F21's digital and social AOR.