LVMH eying metaverse, but focus on “real products”, says CEO

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FILE PHOTO: Inauguration of the Atelier Louis Vuitton in Vendome

PARIS (Reuters) -Bernard Arnault, the head of luxury giant LVMH 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.

(Reporting by Mimosa Spencer, writing by Tassilo Hummel, editing by Dominique Vidalon)

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