Italian fashion group OTB has joined a consortium formed by luxury goods heavyweights LVMH, Prada 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, Reuters reported.
OTB - which stands for Only The Brave - owns brands including Diesel, Maison Margiela, Marni and Viktor&Rolf and acquired Jil Sander in March.
