Italian fashion group OTB joins LVMH-led blockchain platform

Fibo Quantum

A model presents a creation by Dutch designers Viktor Horsting and Rolf Snoeren as part of their Spring/Summer 2015 women’s ready-to-wear collection for Viktor & Rolf fashion house during Paris Fashion Week September 27, 2014. REUTERS/Gonzalo Fuentes/File Photo

MILAN, Oct 15 (Reuters) – Italian fashion group OTB has joined a consortium formed by luxury goods heavyweights LVMH (LVMH.PA), Prada(1913.HK) and Richemont-owned Cartier that uses blockchain technology to trace the origin of high-end products to fight counterfeiting.

The platform, dubbed Aura, will allow consumers to follow a product life cycle by accessing a sort of digital database storing information in a way that it cannot be changed, tampered with or hacked.

The initiative, launched in April and a rare case of collaboration between rival brands, is aimed at improving transparency about where and how luxury goods are made, and also provide owners with certificates of authenticity.

OTB – which stands for Only The Brave – owns brands including Diesel, Maison Margiela, Marni and Viktor&Rolf and acquired Jil Sander in March.

Reporting by Silvia Aloisi
Editing by Mark Potter

Our Standards: The Thomson Reuters Trust Principles.

Wood Profits Banner>