With the launch of new platform Pheagee, Douyin has made digital fashion its new battleground. Can it secure this untapped market?
What Happened: Digital fashion is Douyin’s new battleground. As reported by Tech Planet, a digital fashion platform named “Pheagee” is in the pipeline for the Bytedance-owned social media app. It is rumored to involve both virtual fashion and idols, and interact with Douyin e-commerce and Bytedance’s virtual reality business.
Ahead of the debut of “Pheagee,” Bytedance acquired Chinese VR startup Pico in August 2021, which prepared the technological support for the giant’s foray into digital fashion. The company also invested in virtual girl group A-SOUL and the virtual human Li Weike in 2021 and 2022, respectively.
The Jing Take: As gaming and online education have been dampened in China, domestic tech giants are eying growth engines like social e-commerce and the metaverse: digital fashion is the sweet point marrying these two sectors.
Bytedance is not the only one betting on it. Last week, social platform Xiaohongshu announced its collaboration with Shanghai Fashion Week, launching the “Design Verse” project featuring nine homegrown designers and putting up a total of 3,000 digital fashion items exclusively for sale on the platform. Continue to read the full article here
