Ralph Lauren beats expectations, posts strong earnings on metaverse, Winter Escape, digital fashion NFTs in Roblox and Zepeto

  • Why are businesses flocking to the metaverse? If you don’t know the answer to that question by now, time to look around.
  • The answer is simple: the metaverse is a NEW MARKET that reaches YOUNGER, MORE TECH SAVVY CONSUMERS and ENGAGES them in ways that can be more lasting.
  • Ralph Lauren just posted strong earnings that beat expectations: “For the third quarter, profits increased to $218 million, an 82 per cent jump over the same period last year.”
  • Ralph Lauren launched a “Winter Escape” collection of NFTs for Roblox.
  • Ralph Lauren’s NFTs were a hit. As Vogue Business reported: “That helped new digital customer acquisition increase by 58 per cent in the quarter. Previously, Ralph Lauren also designed digital outfits for avatars on Zepeto. ‘The investment helped recruit younger, full-price customers, particularly in digital channels,’ Louvet said.”