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Picture Credit: Cartier
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April 23 /2021 by Union of Excellence
Richemont Brand Cartier Forms Blockchain Consortium with Prada and LVMH
LVMH, Prada and Cartier want to jointly develop the blockchain aura. This is the first global blockchain in the luxury industry, as «Fashionunited» writes. The aim is to «offer consumers a high degree of transparency and traceability» - LVMH.
Three heavyweights in the luxury fashion industry work together with LVHM (Moët Hennessy - Louis Vuitton SE), Prada and Cartier (from the Richemont Group). According to LVMH, this is an “unprecedented collaboration between competitors”.
With the Blockchain Aura, product and customer are linked via their respective identification numbers. This allows the unique history of the product to be traced. It also guarantees the authenticity of the luxury product.
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