MILAN, Oct 15 (Reuters) – Italian style group OTB has joined a consortium shaped by luxurious items heavyweights LVMH , Prada 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 shoppers to comply with a product life cycle by accessing a form of digital database storing info in a method 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 aimed toward bettering transparency about the place and the way luxurious items are made, and likewise present house owners with certificates of authenticity.
OTB – which stands for Solely The Courageous – owns manufacturers together with Diesel, Maison Margiela, Marni and Viktor&Rolf and bought Jil Sander in March. (Reporting by Silvia Aloisi Enhancing by Mark Potter)