LVMH looks to the metaverse, but focuses on “real products”, says CEO

Adds comments on business in Russia

PARIS, April 21 (Reuters) – Bernard Arnault, the boss of the luxury giant LVMH LVMH.PA said on Thursday that his business empire plans to expand into the digital “metaverse”, but stressed that the company still wants to sell “real products”.

“We are watching closely,” said Managing Director Bernard Arnaultbut added that he saw “No need to rush”.

AMr Nault, who was addressing the group’s annual shareholders’ meeting, also said the economic impact of the Ukraine crisis, which led to the closure of the group’s stores in Russia, was “very small”.

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

(Report by Mimosa Spencer, written by Tassilo Hummel, editing by Dominique Vidalon)

((tassilo.hummel@thomsonreuters.com; Twitter handle: @tassilo_hummel;))

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