
Why Skills-First Leadership Is Replacing the Ivy League Playbook in the C-Suite
The old prestige pyramid—where Ivy League degrees and blue-chip consulting backgrounds paved the way to the CEO seat—is cracking.
January 19, 2022: -On Monday, Ralph Lauren CEO Patrice Louvet said that the fashion brand is chasing opportunities in the metaverse to attract younger shoppers.
At the National Retail Federation’s annual conference, he said that consumers could have boughtbought Ralph Lauren’s digital apparel, made a virtual visit, or even had a virtual coffee at the Madison Avenue store. He said the retailer is considering buying real estate in that digital world, where e-commerce, gaming, and social media collide.
Plus, Louvet said he’s personally participating: He dressed his avatar in a rugby shirt.
“One of our strategies is to win regarding a new generation, and the new generation is there. So we have to be there,” he said. “There are a lot of parallels actually amid the metaverse and Ralph’s vision as we are not a fashion company. We are in the dreams business.”
An increasing number of retailers are dipping their toes in the metaverse. Nike bought a virtual sneaker company, RTFKT, the previous month. Walmart recently filed trademarks that could pave the way to sell virtual goods from home decor to personal care products and offer virtual currency and nonfungible tokens, or NFTs, to users. And luxury brands, which include Ralph Lauren and Gucci, have launched virtual experiences.
Louvet said that Ralph Lauren participates in metaverse platform Zepeto and gaming site Roblox, where shoppers can dress their avatars in Ralph Lauren apparel. He said that the company has already seen how the metaverse could drive revenue. After just a few weeks on Zepeto, he said it sold more than 100,000 units.
He said that Ralph Lauren has not yet sold NFTs but is also considering how that could boost its brand.
“We are learning,” he said. “We are experimenting. I do think that we are going to see consumers keep to be attracted to these spaces as they expand.”
The old prestige pyramid—where Ivy League degrees and blue-chip consulting backgrounds paved the way to the CEO seat—is cracking.
Loud leaders once ruled the boardroom. Charisma was currency. Big talk drove big valuations.
But the CEOs who make history in downturns aren’t the ones with the deepest cuts
Companies invest millions in leadership development, yet many of their best executives leave within a few years. Why?
The most successful business leaders don’t just identify gaps in the market; they anticipate future needs before anyone else.
With technological advancements, shifting consumer expectations, and global interconnectedness, the role of business leaders
Zelenskiy–Trump summit boosts markets as equities rise and the dollar steadies amid growing peace hopes. Investors await Fed insights at Jackson Hole for further direction.
Statistics Canada is investigating an accidental early release of June manufacturing data, raising concerns over data governance and market integrity. The agency has launched an internal review to strengthen its publishing protocols.
Investor confidence in France is deteriorating as political gridlock and budgetary uncertainty deepen.
The Fort McMurray First Nation Group of Companies is the wholly owned business entity of Fort McMurray 468 First Nation. It was established in 1987 as Christina River Enterprises, and the organization rebranded as FMFN Group in 2021. Providing Construction, Custodial, Petro-Canada Fuel & Convenience Store, and Transportation services to a broad portfolio of customers, the Group of Companies is creating financial stability and prosperity for the Nation.
Leave us a message
Subscribe
Fill the form our team will contact you
Advertise with us
Fill the form our team will contact you