![]() ![]() In August 2020, Ralph Lauren created shoppable digital apparel for Bitmoji avatars on Snapchat which could be ordered as physical outfits on the Ralph Lauren website. “With the trajectory we see it growing at, we really do believe in this as a future revenue stream,” said Delahunt, adding, “NFTs are absolutely part of our future roadmap.” Ralph Lauren sees the market opportunity for retailing in virtual spaces to be significant. Luxury brands like Louis Vuitton and Burberry have also been dabbling in the space. Morgan Stanley analysts including Edward Stanley said last month that luxury NFTs, which include digital fashion, may reach 50 billion euros (about $56 billion) by 2030, with collectible items growing in popularity. announced last month, has had more than 6 million visits. And traffic has been booming: VF Corp.’s Vans World in Roblox has had more than 50 million visits since its April launch. Universes like Roblox are attractive to companies because they introduce younger users to their brands and give them a chance to see their marketing vision before graduating to real-world products. Since then, Ralph Lauren has amassed 1.5 million unique visitors and sold 145,000 products, according to Alice Delahunt, its chief digital and content officer. In August, the New York-based company launched an experience on Zepeto, a virtual world backed by South Korean internet giant Naver Corp. ![]() It’s not the first time Ralph Lauren has ventured into the metaverse-the virtual worlds where video conferencing, gaming, social media and e-commerce blend together. Ralph Lauren shares fell less than 1% in New York trading on Wednesday. The items are expected to cost 125 to 300 Robux, or about $1.25 to $3. Players can enjoy activities such as ice skating while shopping for retro sportswear from the designer’s 1990s collection. The company, known best for its polo shirts, is offering a “Winter Escape” experience in the Roblox online universe. ![]()
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