Ralph Lauren Corporation’s CEO Patrice Louvet expressed on Monday that Ralph Lauren, a fashion brand company is chasing the opportunities through metaverse for attracting younger shoppers.
He said that customers can purchase Ralph Lauren’s digital apparel and can also make a virtual visit.
Louvet said, “One of our strategies is to win over a new generation and the new generation is there. So, we have to be there. There are a lot of parallels actually between the metaverse and Ralph’s vision because we are not a fashion company. We are in the dreams business.”
An increasing number of retailers are interested in the metaverse platform. Louvet expressed that the Ralph Lauren fashion brand has already recognized that metaverse is capable of driving revenue.
Louvet said, “Ralph Lauren has not yet sold NFTs — but is considering how that could boost its brand, too.”
He also added, “We are learning. We are experimenting. I do think that we are going to see consumers continue to be attracted to these spaces as they expand.”