The CEO of French luxury house, LVMH, Bernard Arnault revealed that his business empire was considering expanding into the digital “metaverse”. However, he emphasised that the fashion mogul still wants to focus on selling “real products”.
As reports suggest, Bernard Arnault said “We’re looking closely”, but also added that he saw “no need to rush”.
On Thursday, Arnault was addressing the group’s annual shareholder meeting. Addressing the ongoing war crisis, he said that the economic impact from the Ukraine crisis which led to the closure of the group’s stores in Russia, was “very small”.
Nevertheless, the firm has been exploring the crypto space with quite a zeal! As Louis Vuitton was recently in the news when it released PFP NFT rewards in its mobile application game ‘Louis: The Game’.
Several big brands have been flocking to establish a strong foothold in Metaverse. And fashion brands too, seem to jostle each other in doing so. Thus, it is only a matter of time that we see an emerging Metaverse Fashion go mainstream!
