Ralph Lauren is looking to the metaverse for opportunities as a way to appeal to younger buyers. This was announced by the CEO of the firm, Patrice Louvet, this Monday, in statements collected by 'CNBC'.
Louvet, on the sidelines of the National Retail Federation's annual conference, announced that consumers could now shop for "digital clothing" from the firm or take a "virtual tour" of the company's store on Madison Avenue. Increasingly, according to the CEO of the firm, the client is considering the possibility of buying goods in this digital world. "One of our strategies is to conquer a new generation and the new generation is there," he has declared.
The metaverse is increasingly a gamble for retail brands. Thus, this very Monday, Walmart has revealed its plans to enter the field of highly immersive virtual reality / augmented reality (VR / AR) and the world based on the block chain.
Nike also bought a virtual sneaker company, RTFKT, last month. And luxury brands, such as Ralph Lauren itself or Gucci, have launched virtual experiences.
Ralph Lauren already participates in the Zepeto metaverse platform and the Roblox gaming site, where shoppers can dress their avatars in Ralph Lauren clothing. According to Louvet, the company has studied how the metaverse can drive revenue. After a few weeks on Zepeto, more than 100,000 units have been sold.
Also, the firm is planning to sell NFTs with the aim of "boosting its brand". "We are learning," said Louvet. "We're experimenting. I think consumers will continue to be drawn to these spaces as they expand."
