DREST Raises £15M Funding to Revolutionize Luxury Fashion Gaming

July 7, 2023
by

Key Takeaways:

  • DREST, the innovative mobile gaming company, has successfully raised £15 million in funding to fuel the development of its latest product, DREST Game 2.0.
  • With a 250% year-on-year user growth since its launch in 2019, DREST has established itself as the premier fashion gaming experience, collaborating with over 260 luxury brands.
  • The investment comes as mobile gaming revenues continue to surge, accounting for 50% of the global gaming market, which is projected to reach $221 billion by 2025.
  • DREST combines the worlds of luxury fashion, beauty, and lifestyle with the immersive opportunities of the metaverse, allowing players to showcase their styling talents through hyper-realistic avatars.
  • The funding, provided by the family office of Co-Founder and Co-Chair Graham Edwards, will support DREST’s expansion and international growth plans.

Introduction:

DREST, the pioneering mobile gaming company, has secured a significant funding round of £15 million to accelerate the development of its cutting-edge product, DREST Game 2.0. As the demand for mobile gaming continues to skyrocket, DREST aims to revolutionize the industry by merging the realms of luxury fashion, beauty, and lifestyle with the limitless possibilities of the metaverse.

DREST: A Fusion of Luxury Fashion and Gaming:

DREST has carved a niche for itself as a premier fashion gaming experience, offering players the opportunity to showcase their styling talents using the latest luxury fashion and beauty collections. By leveraging in-game challenges and user-generated content, DREST has become a platform where players can easily discover, style, and shop the latest collections from renowned brands such as Breitling, Cartier, Fendi, Gucci, Prada, and Valentino.

DREST’s innovative approach combines gamification with brand marketing and partnership opportunities, opening up new avenues for brands to engage with highly-engaged audiences. The digital fashion assortment, provided by FARFETCH and directly from brands, allows players to immerse themselves in the world of luxury fashion and unleash their creativity.

Key Takeaways:

  • DREST has raised £15 million in funding to fuel the development of DREST Game 2.0 and support its growth in the gaming industry.
  • Since its launch in 2019, DREST has experienced remarkable user growth, recording a 250% year-on-year increase in its user base.
  • The investment comes as mobile gaming revenues reached $92.2 billion in 2022, accounting for 50% of the global gaming market revenues.
  • DREST merges luxury fashion, beauty, and lifestyle with the possibilities of the metaverse, providing players with an immersive styling experience.
  • DREST collaborates with over 260 brands, including Breitling, Cartier, Fendi, Gucci, Prada, and Valentino, offering players access to the latest collections.
  • The funding was secured from the family office of Co-Founder and Co-Chair Graham Edwards, highlighting the confidence in DREST’s growth potential.

About DREST: Redefining Fashion Gaming:

DREST is a trailblazing mobile gaming company that has redefined the way people engage with luxury fashion and lifestyle. By combining gaming and fashion, DREST has created a unique platform that bridges the gap between virtual creativity and real-world fashion. With its innovative approach, DREST has disrupted the gaming industry, making luxury fashion accessible to everyone, everywhere.

Expanding in the Thriving Mobile Gaming Market:

The investment in DREST comes at a time when the mobile gaming market is experiencing unprecedented growth. In 2022, mobile gaming revenues reached a staggering $92.2 billion, capturing 50% of the global gaming market revenues. Experts predict that the gaming market will continue its upward trajectory, reaching a value of $221 billion by 2025.

DREST is well-positioned to capitalize on this growth, leveraging its unique proposition to attract a diverse and engaged user base. With its focus on luxury fashion and lifestyle, DREST offers a distinct gaming experience that appeals to fashion enthusiasts, gamers, and creative individuals alike.

Driving Innovation and Metaverse Integration:

The recent funding round will enable DREST to further develop its product offerings and expand into new territories. The company aims to roll out an enhanced version of its current product, incorporating metaverse-enabled features and a series of exciting new additions. DREST aspires to become the leading creative platform for fashion, entertainment, and lifestyle gamification.

DREST’s ambitious plans also include exploring additional games within the web3 and lifestyle space. The company will embark on a Research & Development phase over the next 18 months to drive innovation and tap into emerging trends in the gaming industry.

Henri Holm Joins as Chief Financial Officer:

DREST recently welcomed Henri Holm as its Chief Financial Officer. With a wealth of experience in gaming and web3, Holm is well-equipped to contribute to DREST’s financial strategy and digital development. His expertise in finance, business development, and digital strategy will further strengthen DREST’s position in the gaming industry.

Conclusion:

DREST’s successful funding round of £15 million marks a significant milestone in the company’s growth journey. As the premier luxury fashion gaming experience, DREST continues to captivate users with its immersive gameplay and collaboration with over 260 renowned brands. With the mobile gaming market flourishing, DREST is wellpositioned to capitalize on the industry’s exponential growth and reshape the intersection of fashion and gaming.

The investment will empower DREST to develop its highly anticipated DREST Game 2.0, providing users with an enhanced and metaverse-enabled gaming experience. As DREST expands its presence globally, it aims to solidify its position as the leading creative platform for fashion, entertainment, and lifestyle gamification.

With its unique approach, DREST has created a digital space where fashion enthusiasts can unleash their creativity and immerse themselves in the world of luxury fashion. By collaborating with esteemed brands and offering access to the latest collections, DREST has become a sought-after platform for users to explore, style, and shop in a virtual environment.

The exponential growth of mobile gaming revenues highlights the immense potential in this sector. DREST’s fusion of luxury fashion, gaming, and the metaverse places it at the forefront of this burgeoning market. As the gaming industry continues to evolve, DREST’s innovative vision and commitment to user engagement position it for continued success.

With the strategic investment from the family office of Co-Founder and Co-Chair Graham Edwards, DREST is well-supported in its mission to redefine fashion gaming. The confidence in DREST’s growth potential reflects the company’s ability to captivate users and its vision to revolutionize the gaming landscape.

DREST’s CEO, Lisa Bridgett, expressed excitement about the investment, stating, “This is testament to the strength of our product delivery and pipeline of ideas. We are now ready to take the business to the next level, and offer a new one-of-a-kind experience to our users while maintaining the core elements of the game.”

As DREST continues to evolve across gaming, media, data, and e-commerce, it is committed to providing a unique and immersive gaming experience for its users. The company’s dedication to scaling and innovation will pave the way for future growth and position DREST as a frontrunner in the fashion gaming industry.

In conclusion, DREST’s successful funding round marks a significant milestone in the company’s journey. With its focus on luxury fashion, gaming, and the metaverse, DREST has reshaped the gaming landscape and created a platform that seamlessly integrates creativity, fashion, and technology. With the support of the recent investment, DREST is poised to elevate the gaming experience to new heights and redefine the boundaries of fashion in the digital realm.

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