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Louis Vuitton, Cartier, Prada Push Blockchain to Ensure Authenticity
- Luxury groups tout technology to boost authenticity of goods
- Groups form consortium; call on other brands to join effort
A Prada store in Moscow.
Photographer: Andrey Rudakov/BloombergLVMH, Richemont’s Cartier and Prada SpA are joining forces to offer a blockchain solution to their customers seeking an extra seal of authenticity for the goods they’re buying.
The alliance of the world’s largest luxury-goods makers plans to make a blockchain-enabled solution available to all luxury brands to provide shoppers with assurance what they’re buying is authentic, the companies said in a joint statement Tuesday. Plus it will make the products traceable in a transparent way.