LVMH has no plans to enter the Metaverse for the time being

As LVMH CEO Bernard Arnault has stated, entering the Metaverse is not one of his main objectives for the time being.

The luxury conglomerate says selling virtual fashion is not one of its priorities right now. “It is not our goal to sell virtual trainers for ten euros,” Arnault said during the annual investor presentation.

But this does not mean that it is not interested in this new digital alternative, which is emerging as the future of the internet. Business of Fashion states that LVMH is currently “studying the possibilities and following the evolution of the space, maintaining an interest in the possible applications of NFT”.

In the director’s own words, “We are currently in the real world selling real products. It’s certainly engaging, interesting and fun. But we have to see what the application of the Metaverse and these NFTs will be”. He explains that, while the introduction into the Metaverse means “a positive impact on our brands, if it’s not done well it could have catastrophic results”.As LVMH CEO Bernard Arnault has stated, entering the Metaverse is not one of his main objectives.

And speaking of fashion and Metaverse… Have you heard of the “MetaBirkins”?