HONG KONG, April 16, 2021 / PRNewswire / – Evergreen Products Group Limited (stock code: 1962.HK; “Evergreen” or the “Group”), a leading wholesaler of synthetic and natural hair extensions and wigs, began to develop and invest in digital wigs, which will be a new product line in the virtual fashion space, using non-fungible token (“NFT”) technology in their long-term business strategy.
“We have taken a close look at our position during the COVID crisis,” Mr. Chang Yoe Chong Felix, President and CEO of Evergreen: “As we are already a leader in the traditional wholesale market, we have realized that we owe it to ourselves and our customers to be much more aggressive to become more digital. E-commerce is just the start. ”
Following this sentiment, Chang intends to create a whole new product line in the virtual fashion space, implementing proprietary NFT technology to manufacture unique digital wigs, targeting the growing demographics of ‘digital natives. That is, consumers who are online all the time and experience the world through a mobile-first lens.
“We have realized that we have to look beyond ‘digital’ and ‘e-commerce’, and we have to understand the next generation digital economies,” Chang said.
Similar to other players in the NFT space, these wigs will be unique. “If you buy one of our digital wigs, you can use it anywhere you live digitally and seamlessly. Imagine being able to “wear” our wigs in your social media posts, during a live video stream or during an audio-video call. Your wigs go where you go. “
Chang is adamant it is now time to jump into space. “There are so many platforms out there. We think this will bring tangible value to our customers and in a very cool way. We are particularly excited about the upcoming release of Apple’s augmented reality (‘AR’) glasses and from Samsung. Imagine having an “always on” feature on these platforms. You can literally walk around in your personal fancy AR wig. It can even be made of fire or diamonds or both. “
The Group is working on the launch of a direct-to-customer (D2C) e-commerce platform powered by AR. The web-AR experience will allow customers to “try on” wigs before purchasing. The browser-based functionality will be a frictionless implementation, making the functionality available without the need to install any special application or software.
To carry out all of these, the Group called on the services of Hong Kong based at Shadow Factory Limited, a leading provider of Extended Reality (“XR”) content and software, to assist with advisory and technical execution. “As with many legacy businesses, we know we need a major overhaul. It means we also have a lot of room to grow and a lot of untapped value. That’s why we turned to Shadow Factory. They have a great track record in helping businesses realize their full potential. “
NFT is a unit of data on a digital ledger called a “blockchain,” where each NFT can represent a unique digital item. NFTs can represent digital files such as art, audio, videos, video game elements, and other forms of creative work.
About Evergreen Products Group Limited (Stock Code: 1962.HK)
Founded in 1962, Evergreen is one of the world’s leading manufacturers of hair products. Since its inception, with in-depth industry knowledge and renowned for its quality products and comprehensive product portfolio, the Group has built unique competitive advantages in the global hair products market. Based at Hong Kong, the Group has three production centers and five production centers in China and Bangladesh, respectively. The Group employs more than 25,000 people worldwide and operates in Bangladesh, Hong-Kong, China, Japan and United States.
About Shadow Factory Limited
Founded in 2016 and based in Hong Kong, Shadow Factory Limited is the leading VR / AR production company in immersive content development and digital strategy. As a full-service design and technology studio, they specialize in delivering next-generation XR services with corporate clients around the world.
SOURCE Evergreen Products Group Limited