The beauty of batik is not only seen as clothing. Fabrics made with this special technique are starting to get serious attention as an investment instrument. Batik is synonymous with Indonesia. The various styles illustrate the rich artistic heritage of the country. Unexpectedly, batik can become the next luxury asset that can provide returns. Alta, the largest digital market in Southeast Asia for alternative investment, sees a big opportunity from batik investment. Recently, Alta partnered with a luxury fashion company from Indonesia, namely Iwan Tirta Private Collection, to present batik to the world of alternative investments in the form of digital assets.

Radith Soeriadinata, Country Director of Alta for Indonesia revealed that the demand for alternative assets, especially luxury assets, has skyrocketed over the past few years. In fact, this upward trajectory is likely to continue in the near future.

Luxury assets are being actively explored for portfolio diversification. Many consider luxury assets as investment assets as they have proven less susceptible to inflationary pressures over the past few years.

According to the recently published Knight Frank Wealth Report 2023, collectible art leads the Luxury Investment Index in 2022 with prices up 29%. This data opens a new perspective that buyer sentiment is shifting positively towards art in luxury assets.

Radith said that Alta is pleased to have partnered with Iwan Tirta Private Collection to present a unique opportunity in alternative assets.

This is in line with Alta's goal of providing better access to alternative assets, enabling a better diversification of the portfolio beyond the typical market offerings.

"Our partnership with Iwan Tirta is a strong step in this direction (a luxury asset)," said Radith, Friday (10/3).

Quoting finewsasia, Friday (10/3), Kelvin Lee, Co-founder and CEO of Alta said that Javanese textiles are actually known as luxury goods. However, its position as a luxury investment has yet to be explored.

"Hand-painted batik is increasingly recognized as a valuable luxury asset, achieving international recognition through high-profile collaborations that have brought batik to the forefront of the world of fashion and textiles," said CEO Iwan Tirta Widiyana Sudirman in a statement.

The export value of batik reached US$ 533 million in 2020 and US$ 158 million in the first quarter of 2021, according to data from Indonesia's Ministry of Industry.

This batik collaboration is part of Alta's ongoing efforts to expand the universe of investment alternatives with a focus on luxury assets.

Alta is also listing Wine in collaboration with PhillipCapital in 2022, as well as single malt Scotch Whiskey with Diageo through Casks of Distinction in 2021.

"Overall luxury assets are seeing high investor interest," Lee added.