Salvatore Ferragamo opened the doors to its new SoHo store in New York City on Friday.
Located at 63 Greene Street, the 2,600 square foot store features a new concept focused on accessories and footwear – with a tech element.
An important part of this new store concept is its ability to be used as a flexible space. “Everything in this space is modular, which allows us to make changes to the store with ease,” Salvatore Ferragamo North American CEO Daniella Vitale told FN during a store walk-through on Thursday. “If we want to add more ready-to-wear and have less shoes, the shelves are removable and hanging fixtures can be added. Everything can be switched around – allowing us to express ourselves however we’d want based on demand.”
Another large part of the new store concept is the integration of two new pieces of technology. The largest one is a new NFT installation and limited-edition capsule created in partnership with digital artist Shxpir and multidisciplinary studio De-Yan.
Realized as a multi-sensory booth within the shop, the experience blends the worlds of Web3 and in-person retail as visitors are invited to enter a mirrored installation where they can choose from a selection of Shxpir designed backdrops while they are captured on a high-spec camera.
Once created, visitors will have the opportunity to mint their custom artwork – limited to 256 individual NFTs – on the ethereum blockchain via Opensea. With all minting fees being covered in advance by Salvatore Ferragamo, Vitale said that the process itself has been conceptualized so that beginners and seasoned collectors alike can participate. “I believe this activation will attract customers who are truly into Web3 and NFTs,” added Vitale. “The custom art and sharable videos allow them to express themselves – it’s social currency.”
Asked what she sees as the future of this type of Web3 activation going forward, Vitale told FN that it’s really important as a form of entertainment. “We are in the entertainment business, and we need to make sure that retail is as engaging as possible,” she maintained. “So I do feel that this is something that will stay with us in different iterations. And this allows us also the opportunity to be able to work with other artists or collaborators going forward.”
And as a complement on to Shxpir’s custom NFTs, Ferragamo is offering 200 T-shirts priced at $350 and 150 sweatshirts priced at $650 featuring the artists work. Proceeds from the sale of this capsule will be donated directly to The Center – one of the oldest and leading LGBTQ+ organizations in New York City.
What’s more, the Italian luxury brand has also debuted a custom hologram sneaker program which gives guests the chance to design a completely personalized version of Ferragamo’s latest unisex style, the 6R3ENE, by choosing from a wide array of colors and details.
Created in partnership with De-Yan, the concept brings the sneaker personalization process to life by projecting a holographic version of the work in progress directly on a six-foot-tall booth. “There are 40 different variations a guest could create here on this hologram,” Vitale added. “They can also add their initials to the back of the shoe. Once the shoe is complete and ordered, we will deliver the shoe in 10 weeks.”
The new style uses eco-friendly materials as well. Its upper is composed of Econyl, a fiber 100% regenerated from fishing nets and other nylon waste, as well as both leather and suede overlays which give second lives to scraps left over from the production of other items. The new 6R3ENE retails for $1,150.
Overall though, Vitale feels like the brand’s new offering in SoHo is the right fit for the neighborhood and its clientele. “The Ferragamo SoHo Concept Store is at once a celebration of New York’s thriving downtown community and a forward thinking take on 21st century retail spaces,” she explained. “As a brand, we thrive on the inherent energy of New York’s downtown culture so it’s a natural home for us.”