International Fashion Group OTB Joins The AURA Blockchain Consortium As New Founding Member
After a successful launch in April 2021 and several projects already on track, the AURA BlockchainvConsortium, is delighted to welcome the OTB Group as a new and fourth founding member. Since April, each brand has developed its own experience according to its specificities and customer expectations. Brands such as Bulgari, Cartier, Hublot, Louis Vuitton, Hennessy and Prada are already active on the platform. This initiative was the concretization of a common ambition shared by three major players of the luxury and high-quality industry to set and develop together new standards for the luxury industry related to innovation, transparency and blockchain technology. Driven by a strong sense of creativity and focused on the integration of digital and physical products, as a new founding member, OTB Group will contribute to further reinforce the efforts of the AURA Blockchain Consortium to make blockchain an even more impactful technology for our industry.
Through an unparalleled alliance and the development of a uniquely advanced and innovative technology, LVMH, Prada Group, Cartier, part of Richemont and OTB will continue to raise the industry standards to drive change and increase customer trust in the brands’ sustainable practices and product sourcing.
The Aura Blockchain Consortium has accelerated its activities in the development of the technical roadmap. The upcoming projects include:
- the release of Aura Light, a SaaS solution for brands who wish to participate in Aura without having the necessary internal resources to develop their own systems and are therefore looking for an easy solution to implement
- the development of an NFT solution for luxury brands
The founding members of the AURA Blockchain Consortium commented: “The Aura Blockchain Consortium warmly welcomes OTB as our fourth founding member. The Group’s strategy which is geared towards young generations and its courageous choices, combined with its tech expertise, are at the heart of this union. We strongly believe that OTB’s contribution will be of great value for the evolution of our platform and the standards we aim to set for the entire luxury industry”. Daniela Ott, Secretary General of the Aura Blockchain Consortium: “I am thrilled for the OTB Group, its brands and teams to join the Aura Blockchain Consortium. OTB believes that the luxury and fashion world will coexist and merge physical and digital products. The team is already well advanced on its Digital Evolution Roadmap. With this mindset and actions, OTB is an ideal founding member to join in with us on the Aura journey.”
Stefano Rosso, Board Member of OTB Group and Board Member of Aura Blockchain Consortium: “It is a great honour for us to join the Aura Blockchain Consortium as a founding member. We aim to provide our strong contribution to this strategic collaboration focusing on a circular business model, transparency for the customer, innovation and sustainability. Aura Blockchain Consortium will be an impressive accelerator of our journey and we are glad to put our experience, bravery and innovative thinking at the service of the Consortium to further develop the applications of the blockchain technology and raise the standards of the fashion and luxury industry.”
About Aura Blockchain Consortium
A rising lead in the software industry Aura Blockchain Consortium was created in April 2021 by three major luxury players LVMH, Prada Group and Cartier, part of Richemont and since October 2021 the OTB Group, joining forces to address the shared challenges of communicating authenticity, responsible sourcing and sustainability in a secure digital format. The platform developed by the Aura Blockchain Consortium aims at creating new industry standards. By promoting the use of a single global blockchain solution open to all luxury brands of all sectors worldwide, the platform provides consumers with additional information, services, transparency and rising the customer experience to a new level.
For more information on the Aura Blockchain Consortium, visit auraluxuryblockchain.com.
OTB is an international fashion group, powering a range of global, unconventional brands, including Diesel, Maison Margiela, Marni, Viktor&Rolf, and Jil Sander. The group also controls the Staff International and Brave Kid companies, and holds a minority investment in L.A. brand Amiri. As its name suggests, - OTB stands for “Only The Brave” – the group pushes boundaries and challenges established rules to re-define the world of fashion and lifestyle, by fostering the creativity of international talents. OTB embodies the brave, innovative and unapologetic spirit and vision of its founder and president Renzo Rosso. Embracing consumer-centric digital innovation, together with a concrete and long-term commitment to creating a sustainable business, are the pillars of the development philosophy of the Group that employs over 6,000 people worldwide.