Otb joins the Lvmh, Cartier and Prada blockchain

Otb joins the Lvmh, Cartier and Prada blockchain
Otb joins the Lvmh, Cartier and Prada blockchain

October 15, 2021

by Giulia Sciola

Franck Le Moal, Lorenzo Bertelli and Stefano Rosso

Отб enter in Aura Blockchain Consortium as a fourth, new, founding member. The group of Renzo Rosso has in fact joined forces with Lvmh, Prada e Cartier, brand of Richemont, to develop new high-end traceability standards with blockchain technology, ready to set new standards for fashion in terms of innovation. Brands such as Bulgarian, Cartier, Hublot, Louis Vuitton, Hennessy and Prada. The founders of the project, explains a note, “will continue to improve industry standards to drive change and increase customer confidence in sustainable practices and sourcing of products and raw materials.”

Aura Blockchain Consortium has accelerated its activities by developing a technical roadmap. Projects under development include the launch of Aura Light (a Saas service for brands wishing to participate in the Aura Blockchain Consortium despite not having the internal resources necessary to develop their own system, and are therefore looking for an easy-to-implement solution) and the development of NFT certificates for luxury brands .

“We aim to make a substantial contribution to this strategic collaboration – he commented Stefano Rosso, member of the board of Otb Group and Aura Blockchain Consortium -, focusing on a circular business model, transparency for the customer, innovation and sustainability. Aura Blockchain Consortium will be an extraordinary accelerator for our journey and we are delighted to put our experience, courage and innovative thinking at its service, to further develop the applications of blockchain technology and raise the standards of the fashion and luxury industry. “.

The news of the arrival in Aura comes at a time of expansion for Otb which, also strengthened by the acquisition of Jil Sander last March, aim for the creation of an Italian luxury center thanks to new takeovers. The latter, according to the statements of CEO Ubaldo Minelli, could not be limited to fashion brands, but evaluate “possibilities on the production chain and, downstream, on the distribution chain”. At the end of September, during the Milan fashion shows, Renzo Rosso estimated one for his group organic annual growth of 20% in sales over the next few years.

For its part, Aura Blockchain Consortium was created in April 2021 by Lvmh, Prada Group and Cartier. The project promotes the use of a single global blockchain solution, open to all luxury brands worldwide, to guarantee consumers greater transparency and traceability. The three players have jointly developed a common platform to address shared challenges in communicating authenticity, responsible sourcing and sustainability through a secure digital format. Last June, Aura Blockchain Consortium enlisted Daniela Ott with the role of general secretary.

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