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

LVMH’s latest earnings call briefly mentioned the “metaverse” and how the company is thinking about its gaming strategy. LVMH, the luxury goods conglomerate overseeing brands like… View Article

FASHION RETAIL NEWS UK

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

LVMH’s latest earnings call briefly mentioned the “metaverse” and how the company is thinking about its gaming strategy.

LVMH, the luxury goods conglomerate overseeing brands like Christian Dior, Marc Jacobs, Tiffany & Co., and Louis Vuitton, is looking at the metaverse and blockchain gaming “very carefully,” said Jean Jacques Guiony, LVMH’s Chief Financial Officer, in the company’s latest earnings call.

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”.

Several companies under the LVMH umbrella have already begun experiments in crypto, NFTs, and gaming.

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

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