MILAN, Oct 15 (Reuters) – Italian vogue group OTB has joined a consortium shaped by luxurious items heavyweights LVMH (LVMH.PA), Prada(1913.HK) and Richemont-owned Cartier that makes use of blockchain expertise to hint the origin of high-end merchandise to combat counterfeiting.
The platform, dubbed Aura, will permit customers to observe a product life cycle by accessing a type of digital database storing info in a manner that it can’t be modified, tampered with or hacked.
The initiative, launched in April and a uncommon case of collaboration between rival manufacturers, is geared toward bettering transparency about the place and the way luxurious items are made, and likewise present homeowners with certificates of authenticity.
OTB – which stands for Solely The Courageous – owns manufacturers together with Diesel, Maison Margiela, Marni and Viktor&Rolf and purchased Jil Sander in March.
Reporting by Silvia Aloisi
Enhancing by Mark Potter
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