- LVMH is launching a blockchain platform, code-named AURA, to track their luxury goods.
- LVMH owns over 60 luxury brands like Louis Vuitton, Dior, Dom Pérignon and Hublot. They reported revenues of $53 billion in 2018.
LVMH (Moët Hennessy Louis Vuitton SE), the owner of numerous luxury brands like Louis Vuitton and Christian Dior, is going to launch a blockchain platform to track their products. The platform, code-named AURA, is expected to go live in May or June with Louis Vuitton and Dior and will be extended to LVMH’s other brands in due time.
AURA has been built using Quorum, a permissioned version of the ethereum blockchain developed by JPMorgan. LVMH has hired a full-time blockchain team and has been working closely with ConsenSys and Microsoft Azure to create their platform.
Coindesk’s source reported:
“To begin with AURA will provide proof of authenticity of luxury items and trace their origins from raw materials to point of sale and beyond to used-goods markets. The next phase of the platform will explore protection of creative intellectual property, exclusive offers and events for each brands’ customers, as well as anti-ad fraud.”
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