Retail Giant H&M Debunks Rumor of Store Opening in Metaverse, Collaboration With Ceek

Retail Giant H&M Debunks Rumor of Store Opening in Metaverse, Collaboration With Ceek

H&M Debunks Rumor of Store Opening in Metaverse, Collaboration With Ceek

Major fashion company H&M has denied the rumor that it is opening a store in the metaverse. According to false reports, customers could walk through the store and purchase products in the Ceek metaverse.

H&M Denies Metaverse Rumor and Collaboration With Ceek

Several major publications reported Monday that retail clothing giant H&M has opened a 3D store in the metaverse, including the Economic Times and Mashable India.

H&M (Hennes & Mauritz) is a major fashion and design company with 53 online markets and stores in 75 markets worldwide. One of the largest clothing brands in the world, H&M has 4,856 stores globally as of Sept. 30, 2021. Its largest markets are Germany, the U.S., the U.K., France, Sweden, Russia, Italy, and the Netherlands.

However, the company has denied the reports that it is opening a store in the metaverse. When Bitcoin.com News inquired about the news, a spokesperson for H&M clarified:

We’d like to confirm that H&M is not opening a store in Metaverse at this time.

According to the false reports, the company said that customers will be able to walk through the store, choose the products they want, and purchase them in the Ceek City universe. Payments must be made with ceek tokens (CEEK).

Ceek virtual reality environments are governed by smart contracts on the Binance Smart Chain (BSC), its website details.

In addition, the false reports also claim that customers will be able to order clothes seen in the H&M metaverse store from its physical stores later.

The rumor of H&M opening a store in the metaverse followed a tweet by Ceek’s official Twitter account on Dec. 7 last year. The company said it created a “concept VR store” to be presented to H&M.

However, the spokesperson for H&M told Bitcoin.com News:

We are also not collaborating with Ceek.

The official Twitter account for Ceek subsequently clarified Monday: “The H&M store in the Ceek metaverse was just a concept that was presented to H&M and not an actual virtual store yet. We are in discussions with people at H&M to make this a reality, but this is not something that’s a reality as of now.”

Do you think H&M should open a store in the metaverse? Let us know in the comments section below.

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