LVMH Moet Hennessy Louis Vuitton SA's Group Managing Director Antonio Belloni said Thursday that the luxury goods maker may be in the market for a liquor or watch brand, according to Bloomberg.

Belloni said the company may take advantage of the difficult market to round out its portfolio, especially if smaller family-owned firms sell, he said in an interview.

Belloni would not specify a particular target. He added that the conglomerate has cash for the acquisitions and will lower its debt-equity ratio to a range between 25 and 30 percent by the end of the year.