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By
Reuters API
Published
Oct 15, 2021
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Italian fashion group OTB joins LVMH-led blockchain platform

By
Reuters API
Published
Oct 15, 2021

Italian fashion group OTB has joined a consortium formed by luxury goods heavyweights LVMH, Prada and Richemont-owned Cartier that uses blockchain technology to trace the origin of high-end products to fight counterfeiting.


MM6 Maison Margiela - Spring-Summer2022 - Womenswear - Milan - © PixelFormula



The platform, dubbed Aura, will allow consumers to follow a product life cycle by accessing a sort of digital database storing information in a way that it cannot be changed, tampered with or hacked.

The initiative, launched in April and a rare case of collaboration between rival brands, is aimed at improving transparency about where and how luxury goods are made, and also provide owners with certificates of authenticity.

OTB - which stands for Only The Brave - owns brands including Diesel, Maison Margiela, Marni and Viktor&Rolf and acquired Jil Sander in March.
 

© Thomson Reuters 2021 All rights reserved.