A Louis Vuitton store in Paris. The retailer’s parent company helped set up a digital ledger that provides a history of luxury goods bought by consumers.Credit…Charles Platiau/Reuters
LVMH has joined forces with two other major luxury names –Prada and Cartier, part of Richemont – to develop Aura Blockchain Consortium, the world’s first global luxury blockchain. Unveiled on 20 April 2021, this unprecedented collaboration between competitors represents a single, innovative solution to shared challenges of communicating information on authenticity, responsible sourcing and sustainability in a secure, digital format. The objective is to provide consumers with a high level of transparency and traceability throughout the lifecycle of a product.