Purpose and Values
Paris, Milan, Geneva – April 20th, 2021 – Prada Group, together with LVMH and Cartier, part of Richemont, announces the creation of the Aura Blockchain Consortium which will promote the use of a single global blockchain solution open to all luxury brands worldwide to provide consumers with additional transparency and traceability.
The technology offered by the Aura Blockchain Consortium enables direct-to-consumer access to product history and proof of authenticity; they can easily and transparently follow a product’s lifecycle, from conception through distribution, with trusted data throughout, and thus strengthen their relationship with their favorite luxury brands.
Through unprecedented collaboration and the development of a uniquely advanced and innovative technology, Prada Group, LVMH and Cartier continue to raise the industry standards to drive change and increase customer trust in the brands’ sustainable practices and product sourcing.
Lorenzo Bertelli, Prada Group Head of Marketing & Head of Corporate Social Responsibility: “In an incredible journey together with our luxury partners and in a trustful collaboration never seen before in our sector, we have created an exceptional and innovative project aiming to put our customers at the very center creating major values to them through a sustainable authentication system which will unlock future possibilities”.