Kering might be forging ahead in the sustainability stakes owing to a series of new pledges made this week, but rival French conglomerate LVMH is making serious waves in the technology sphere. The parent company, which owns Louis Vuitton, Christian Dior, Celine and Givenchy, is launching the first global blockchain to help consumers trace the provenance and authenticity of luxury products.
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Developed in partnership with Microsoft and technology company ConsenSys, the Aura platform will track the life cycle of an item to provide proof of origin and prevent counterfeits. “The benefits for customers are increased transparency and enhanced ethical products,” LVMH said in a statement declaring that the service would be open to all luxury brands, with all data remaining confidential.
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Louis Vuitton will be the first brand to demonstrate how the technology will facilitate customer engagement in stores. “Every step of the item’s life cycle is registered, enabling a new and transparent storytelling,” the group said. A product’s timeline – from raw materials to the manipulation of them through dyeing, weaving and tanning, manufacturing and shipping – will become part of the sales conversation as the discerning consumer tunes in to the sustainability conversation.
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Aside from this, secure digital identities for luxury goods are crucial as the resale market grows and counterfeit culture persists. Blockchain will prevent data leakage and allow consumers to protect their own data. In an era where cybersecurity poses an ever-growing concern, blockchain might sound like a nebulous concept, but it will become a necessity.
