Absorbing Tiffany is the number one priority at the group right now, LVMH's finance chief Jean-Jacques Guiony told analysts on a post-results conference call.

He said the group, which is home to more than 70 brands and was mainly built up through acquisitions, did not want to do anything that would make that integration process more complicated or its management less efficient.

(Reporting by Silvia Aloisi, Editing by Sarah White)