• innovation

    Chalhoub group announces strategic investment in boltable studio, strengthening its footprint in virtrual retail and the roblox ecosystem top of form

    الأربعاء, فبراير, 07, 2024
In 2022, Chalhoub Group initiated its journey into the metaverse and Web3 by launching a collection of 529 exclusive NFTs for its French luxury silverware brand, Christofle. These NFTs sold out within 5 minutes. Following this success, the Group introduced phygital sneakers for Level Shoes’ 10th anniversary celebration. In 2023, Chalhoub Group continued its pioneering efforts by unveiling the first-ever web3-native streetwear label SOL3MATES.

Expanding upon the successful exploration of the Metaverse, Chalhoub Group's investment in Boltable Studio is a key element of a holistic strategy to integrate web3 and virtual retail into its business model. This strategic move positions the Group to navigate future market changes effectively while mitigating resource risks. Furthermore, it represents a significant stride toward the future of virtual Shopping. Prior to their partnership, Chalhoub Group & Boltable Studio collaborated on the virtual Roblox collection for Christofle. In 2023, fifteen virtual items, created by Boltable Studio, sold over 120,000 times on Roblox, highlighting the platform’s significant potential. 

 

The partnership with Christofle is a testament to Boltable's ability to translate traditional luxury into the digital space, resonating with a new generation of consumers. Chalhoub Group has additional partnerships in progress to introduce (luxury) brands to Roblox. 

 

Nick Vinckier, Director of Corporate Innovation at Chalhoub Group, commented: “Our investment in Boltable Studio is a strategic step towards understanding and leveraging the metaverse and platforms like Roblox. 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: "Partnering with Chalhoub Group is a game-changer for Boltable Studio. Our years of experience in Roblox position us uniquely to bring luxury retail into this vibrant digital world. 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," 

 

Based in Abu Dhabi, Boltable Studio has been a trailblazer in the Roblox world since 2016. Their in-house brand, Prince Clothing, has sold over 30 million virtual items, demonstrating their profound understanding and success in this domain.  

 

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ABOUT CHALHOUB GROUP 

 

INSPIRE | EXHILARATE | DELIGHT 

 

For over six decades, Chalhoub Group has been a partner and creator of luxury experiences in the Middle East. The Group, in its endeavour to excel as a hybrid retailer, has reinforced its distribution and marketing services with a portfolio of eight owned brands and over 300 international brands in the luxury, beauty, fashion, and art de vivre categories. More recently, the Group expanded its expertise into new categories of luxury watches, jewellery, and eyewear. 

  

Every step at Chalhoub Group is taken with the customer at heart. Be it constantly reinventing itself or focusing on innovation to provide luxury experiences at over 750+ experiential retail stores, online and through mobile apps, each touch point leads to delighting the customer.  

  

Today, Chalhoub Group stands for 15,000 skilled and talented professionals across eight countries, whose cohesive efforts have resulted in the Group being certified as a Great Place to Work® in several countries. 

  

To keep the innovation journey going, the Group has set up “The Greenhouse”, which is not just an innovation hub, but also an incubator space and accelerator for start-ups and small businesses in the region and internationally. This is just one of the several initiatives taken by the Group to reinvent itself, catalysed by forward thinking and future proofing. The Group has also been embedding sustainability at the core of its business strategy with a clear commitment towards people, partners and the planet, and by being a member of the United Nations Global Compact Community and signatory of the Women's Empowerment Principles. 

 

 

FOR MORE INFORMATION 

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@ChalhoubGroup 

Lea Maalouf 
Director of Media Relations and Public Affairs  Lea.Maalouf@chalhoub.com | + 971 54 716 7770 

 

 

 

ABOUT BOLTABLE STUDIO 

 

Boltable Studio, based in Abu Dhabi, is a leading Roblox design studio known for its creative and innovative approaches in the virtual world. Their game portfolio, including the popular in-game brand "Prince Clothing" and experiences like Liberty Airlines, has achieved remarkable success, surpassing industry giants like Nikeland and Gucci Town. 

 

For further information, please contact: 

 

Zain Tambe 

Founder & CEO 

zain.tambe@boltablestudio.com 

 

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