LVMH, Prada Group And Cartier Come Together To Form The Aura Blockchain Consortium Supporting The First Global Blockchain Dedicated To The Luxury Industry
Luxferity, 23.04.2021
International leaders of luxury jointly announced on April 20th 2021 the creation of the Aura Blockchain Consortium which will promote the use of a single global blockchain solution open to all luxury brands worldwide to provide consumers with additional transparency and traceability.
LVMH, Prada Group and Cartier, part of Richemont, have created together a single solution to address the shared challenges of communicating authenticity, responsible sourcing and sustainability in a secure digital format.
Luxury brands have a unique story to tell on the quality of their materials, craftsmanship and creativity. The technology offered by the Aura Blockchain Consortium enables direct-to-consumer access to product history and proof of authenticity. Consumers can easily and transparently follow a product’s lifecycle, from conception through distribution, with trusted data throughout, and thus strengthen their relationship with their favorite luxury brands.
Through unprecedented collaboration and the development of a uniquely advanced and innovative technology, LVMH, Prada Group and Cartier continue to raise the industry standards to drive change and increase customer trust in the brands’ sustainable practices and product sourcing.
The technological system, a multi-nodal private blockchain, is secured by ConsenSys technology and Microsoft. It will record information in a secure and non-reproducible manner and generate a unique certificate for its owner, enhancing the desire for beautiful objects made with valuable savoir-faire and high-quality sustainable materials.
- Toni Belloni, Managing Director of LVMH:“The Aura Blockchain Consortium is a great opportunity for our sector to strengthen our connection with customers by offering them simple solutions to get to know our products better. By joining forces with other luxury brands on this project, we are leading the way on transparency and traceability. I hope other prestigious players will join our alliance.”
- Lorenzo Bertelli, Prada Group Head of Marketing & Head of Corporate Social Responsibility: “In an incredible journey together with our luxury partners and in a trustful collaboration never seen before in our sector, we have created an exceptional and innovative project aiming to put our customers at the very center creating major values to them through a sustainable authentication system which will unlock future possibilities.”
- Cyrille Vigneron, President and CEO of Cartier International and Member of Richemont’s Board and Senior Executive Committee:“The Aura Consortium represents an unprecedented cooperation in the luxury industry. Blockchain is a key technology to enhance customer service, relationship with partners and traceability. The luxury industry creates timeless pieces and must ensure that these rigorous standards will endure and remain in trustworthy hands. We therefore invite the entire profession to join this consortium to design a new luxury era enabled by blockchain technology.”
Bulgari, Cartier, Hublot, Louis Vuitton and Prada are already active on the platform. Several advanced conversations are also being held with brands both within founder groups and independent brands to join the Consortium soon. Each brand has developed its own experience according to its specificities and customer expectations and will also continue to fully own and be responsible for its data while adhering to the strictest measures on customer privacy, thus preventing the exchange of competitively sensitive information. Information on the blockchain will be stored in a way that it cannot be changed, tampered with or hacked.
The Consortium is open to all luxury brands, no matter the sub-sector or geography they operate in. It also offers flexibility to support companies of varying sizes and to adapt to individual needs. It is a non-profit organization aimed at enhancing customer relationships as well as brand protection. Future financial gains will be reinvested to ensure the technological capability of the platform. For more information on the Aura Blockchain Consortium, visit auraluxuryblockchain.com.
About LVMH
LVMH Moët Hennessy Louis Vuitton is represented in Wines and Spirits by a portfolio of brands that includes Moët & Chandon, Dom Pérignon, Veuve Clicquot Ponsardin, Krug, Ruinart, Mercier, Château d’Yquem, Domaine du Clos des Lambrays, Château Cheval Blanc, Colgin Cellars, Hennessy, Glenmorangie, Ardbeg, Belvedere, Woodinville, Volcán de Mi Tierra, Chandon, Cloudy Bay, Terrazas de los Andes, Cheval des Andes, Cape Mentelle, Newton, Bodega Numanthia, Ao Yun, Château d'Esclans and Château du Galoupet. Its Fashion and Leather Goods division includes Louis Vuitton, Christian Dior Couture, Celine, Loewe, Kenzo, Givenchy, Fendi, Emilio Pucci, Marc Jacobs, Berluti, Loro Piana, RIMOWA, Patou. LVMH is present in the Perfumes and Cosmetics sector with Parfums Christian Dior, Guerlain, Parfums Givenchy, Kenzo Parfums, Perfumes Loewe, Benefit Cosmetics, Make Up For Ever, Acqua di Parma, Fresh, Fenty Beauty by Rihanna and Maison Francis Kurkdjian. LVMH's Watches and Jewelry division comprises Bvlgari, Tiffany & Co, TAG Heuer, Chaumet, Dior Watches, Zenith, Fred and Hublot. LVMH is also active in selective retailing as well as in other activities through DFS, Sephora, Le Bon Marché, La Samaritaine, Groupe Les Echos, Cova, Le Jardin d’Acclimatation, Royal Van Lent, Belmond and Cheval Blanc hotels.
About Prada Group
Pioneer of a dialogue with contemporary society across diverse cultural spheres and an influential leader in luxury fashion, Prada Group founds its identity on essential values such creative independence, transformation and sustainable development, offering its brands a shared vision to interpret and express their spirit. The Group owns some of the world’s most prestigious luxury brands, Prada, Miu Miu, Church's, Car Shoe and the historic Pasticceria Marchesi, and works constantly to enhance their value by increasing their visibility and appeal. The Group designs, manufactures and distributes ready-to-wear collections, leather goods and footwear in more than 70 countries through a network of 633 stores as well as e-commerce channels, selected e-tailers and department stores around the world. The Group, which also operates in the eyewear and fragrances sector through licensing agreements, has 23 owned factories and approximately thirteen thousand employees.
About Cartier
A reference in the world of luxury, Cartier, whose name is synonymous with open-mindedness and curiosity, stands out with its creations and reveals beauty wherever it may be found. Jewellery, fine jewellery, watchmaking and fragrances, leather goods and accessories: Cartier's creations symbolize the convergence between exceptional craftsmanship and a timeless signature. Today, the Maison has a worldwide presence through its 265 boutiques.
