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Luxury Fashion Group OTB to Join Louis Vuitton Parent LVMH in Aura Blockchain Consortium
OTB is also joining luxury brands Prada and Richemont-owned Cartier to tackle counterfeit goods through a blockchain-based seal of authenticity.
Updated May 11, 2023, 4:07 p.m. Published Oct 15, 2021, 8:00 a.m.
Italy’s OTB Group, the owner of fashion brands Diesel, Jil Sander and Viktor & Rolf, is the latest luxury goods company to join the Aura Blockchain Consortium.
- In April, Louis Vuitton’s parent firm, LVMH, Prada and Richemont-owned Cartier unveiled the Aura Blockchain Consortium, a network developed in partnership with ConsenSys.
- OTB Group is the latest to join luxury brands, including Bulgari, Cartier, Hublot, Louis Vuitton, Hennessy and Prada, in tackling counterfeit goods through a blockchain-based seal of authenticity called Aura.
- Aura Blockchain Consortium said it has developed a roadmap for a number of technical projects that includes entering the non-fungible token (NFT) market for luxury brands.
- Another project dubbed the “Aura Light” will involve a software-as-a-service (SaaS) platform for brands that want to participate in Aura.
- “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,” said Daniela Ott, secretary general of the Aura Blockchain Consortium.
Read more: Louis Vuitton, Cartier, Prada to Use Bespoke Blockchain to Tackle Counterfeit Goods
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