As researchers predict that the market for virtual luxury goods might reach $50 billion by 2030, luxury companies like Louis Vuitton and Balenciaga are beginning to see economic success possibility. Recently, the advancement of luxury brands in the Metaverse was the topic of a teleconference hosted by Nathan Foley with Isabelle Aguerre, a member of the GLG Network, global director of client strategy at Chanel, and global director of strategic marketing and e-commerce at Balenciaga. They discussed the possibilities in this rapidly changing industry, the difficulties that exist, and the exploratory efforts made by several premium companies.
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