CLO Virtual Fashion and Epic Games snap up shares in each other

CLO Virtual Fashion, a digital garment solutions developer, and Epic Games, a video game and software company and creator of Unreal Engine, have announced that they have each purchased shares in one another.

The move comes as the duo both look to accelerate digitalisation through the intertwining of fashion and entertainment.

Speaking on the partnership, Simon Kim, CEO of CLO Virtual Fashion, said: “We strongly believe that digital garments will play a significant role in the future of digital entertainment and metaverse platforms.

“We are building toward a future where we imagine the digitization of everything, the convergence of fashion with entertainment and the metaverse. Our visions are aligned and we are committed to building the future that we envision.”

CLO said that its mission was to make integrated workflows more accessible to 3D designers, character artists, animators and fashion professionals, with the result being true-to-life clothing options in games and metaverse platforms

Speaking on the collaboration, Kim Libreri, chief technology officer at Epic Games, noted that bringing high-quality digital fashion into virtual worlds was complex, making it a creative barrier for digital creators.

Libreri continued: “It is exciting to see how CLO Virtual Fashion’s solutions work with Unreal Engine to help designers across industries make life-like digital fashion garments.”

CLO is also hoping to maximise the value of digital assets in the industry, with Kim adding: “We believe these investments will unleash the fullest value of each and every digital garment and creator around the world, and we are extremely happy to share this goal with Epic Games.”