Voting Closed:

FASHION AND TECHNOLOGY

LVMH eying metaverse, but focus on "real products", says CEO

He said his business empire was eying expanding into the digital "metaverse"

In Summary

•He said his business empire was eying expanding into the digital "metaverse"

A handbag manufactured at the Atelier Louis Vuitton is pictured during the inauguration in Vendome, France, February 22, 2022.
A handbag manufactured at the Atelier Louis Vuitton is pictured during the inauguration in Vendome, France, February 22, 2022.
Image: REUTERS

Bernard Arnault, the head of luxury giant LVMH (LVMH.PA) said on Thursday his business empire was eying expanding into the digital "metaverse", but stressed that the company still wants to sell "real products".

"We're looking closely", said Chief Executive Bernard Arnault, but added that he saw "no need to rush".

Arnault, who was addressing the group's annual shareholder meeting, also said the economic impact from the Ukraine crisis, which prompted the closure of the group’s stores in Russia, was "very small".

The group has 124 boutiques and 3,500 employees in the country.