French luxury group LVMH Chairman and Chief Executive Officer Bernard Arnault presents the 2016 full year results at the LVMH headquarters in Paris, on January 26, 2017.

A financial crisis could be just around the corner, according to the chief executive of LVMH, who has described the global economic outlook as "scary".

"For the economic climate, the present situation is...mid-term scary," Bernard Arnault told CNBC Thursday.

"I don't think we will be able to globally avoid a crisis when I see the interest rates so low, when I see the amounts of money flowing into the world, when I see the stock prices which are much too high, I think a bubble is building and this bubble, one day, will explode."