LVMH tackles counterfeits with new global blockchain

LVMH tackles counterfeits with new global blockchain

LVMH is hoping to usher in a new era of authenticity with the launch of blockchain technology that can confirm whether a product is real or fake as well as provide more transparency for consumers interested in provenance.

The French luxury conglomerate will become the first global luxury player to adopt blockchain technology at scale. Starting with Parfums Christian Dior and Louis Vuitton brands, Aura, as the new platform which was developed by ConsenSys is known, will be rolled out across its entire portfolio, according to a report published by WWD.

“When a leader with the reach and respect of LVMH decides that product authentication is a must for luxury consumers, it’s time for every brand with a luxury and premium positioning to pay attention,” said Michele Casucci, Certilogo Founder and CEO.