Luxury giant Louis Vuitton MH (EPA:LVMH) CEO Bernard Arnault said Thursday that LVMH is looking to expand into the digital “meta-universe” but still wants to sell ” real products”. Arnault said, “We are paying close attention, but there is no need to rush.” Arnault also said that even with the closure of stores in Russia, the economic impact of the Ukraine crisis on LVMH was “very small.
LVMH Chief Financial Officer Jean Jacques Guion said the group’s luxury brands such as Christian Dior, Marc Jacobs, Tiffany Co. and Louis Vuitton are “very cautiously” looking at virtual worlds and blockchain games. blockchain games, there are many initiatives that could boost business, and whatever happens, they will be involved. While the metaverse space is interesting and promising, it is still in its early stages. Several LVMH companies are reportedly already experimenting with crypto, NFT and gaming.