Blockchain and luxury: LV and Dior on Aura
While the Ministry of Economic Development launches a blockchain project for the textile industry, which it is hoped, will soon set the example for other Made in Italy sectors, the giant LMVH luxury group announces the launching of the Aura blockchain.
For now, the blockchain will involve only two brands of the LVMH group, Louis Vuitton and Parfumes Christian Dior:
Aura will allow for the authenticity of luxury goods to be certified, by tracing their origins starting from the raw materials and, in the future, it could also manage aspects like the protection of creative intellectual property, while also organising exclusive offers and events for clientele.
This is only the first step in the world of blockchains for LMVH and we are sure that soon also other brands in the group’s portfolio will be involved in the project. We can also be pretty sure that, after the imprimatur of LMVH, very soon other luxury and premium brands will follow its example, and the decision to do so will not be by chance. For the luxury market, the blockchain in fact represents a formidable tool of engagement with clientele, who can immediately and in complete transparency access all the guarantees and information regarding the product they are purchasing. With the certainty that the information contained in the blockchain cannot be manipulated or falsified. An important guarantee above all for those who are looking to make a sound financial investment when purchasing luxury goods.