AMTD International, an NYSE and SGX-listed company and a subsidiary of AMTD Group is acquiring 100% equity interest in global fashion media group L’Officiel for an undisclosed amount.
Under the new management structure, Benjamin Eymère will continue to serve as CEO of L’Officiel. He has also been appointed as chief metaverse officer of AMTD International.
In this newly created role, Eymère is responsible for driving AMTD’s innovation in the metaverse space. “Our goal is to showcase AMTD International’s leadership in metaversal entertainment and cultural areas, and metaversal investment banking,” said Eymère .
He added that AMTD International’s plan is to roll out a new world of decentralised services and entertainment content. As part of this strategic vision, AMTD has opened “AMTD x L’Officiel land” in The Sandbox, a leading decentralised gaming virtual world and subsidiary of Animoca Brands.
The virtual space will feature a project that draws upon L’Officiel’s database of more than 100,000 exclusive images from its 100-year history of fashion and culture.
Titled “Fashion Skin,” the project will include a collection of metaverse-ready virtual clothing. The pieces will be developed by applying artificial intelligence to L’Officiel’s database of fashion imagery.
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“The acquisition of L’Officiel and the launch of a first-of-its-kind initiative in The Sandbox signify AMTD Group’s IDEA strategy, which embraces a variety of creative and innovative projects around the world in media and entertainment, knowledge and education, and crypto investment banking,” the company said in a statement.
The group also plans to develop L’Officiel’s presence in Hong Kong, Macau, the Czech Republic, Hungary, Switzerland, and the Netherlands in the coming months.
Shares in AMTD International closed flat at $12.50 on Jan 20.
