The drink is being produced by Glenmorangie, the Scotch whisky company, and launches in October.
It is being positioned as imperfect, to distinguish it from rival vodka brands, which are associated with purity and perfection. It will be targeted initially at fashion types and opinion formers.
The launch campaign kicks off with a magazine that will be distributed from bars. The title will be written by a group of freelancers, rather than being produced by a customer magazine agency.
The title will contain stories about people with unconventional lives, and excerpts will be featured on the labels of Fallen bottles.
The creative work is being co-ordinated by Erasmus.
Tim Allnutt, the director of Naked Inside, explained: "The label and bottle will be media channels. Labels will be long-copy ads, carrying stories of imperfection from the magazine."
The launch will be followed by a dedicated website.
Although the drink is being backed by Virgin, Fallen is being promoted as an independent brand. Any Virgin branding will be minimal.