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How did the Aura blockchain supported by the luxury industry manage to exceed 40 million products?

How did the Aura blockchain supported by the luxury industry manage to exceed 40 million products?
Comment la blockchain Aura soutenue par l'industrie du luxe a t elle réussi à dépasser les 40 millions de produits ?

Mise à jour 3 juin 2024 par Redak

Discover how the merger between Aura blockchain technology and the luxury industry helped surpass the 40 million product mark. An innovative collaboration combining excellence and transparency to revolutionize the sector. Immerse yourself in the fascinating universe where technology meets refinement, for exceptional results.

The Aura Blockchain Consortium: A Response to the Challenges of the Luxury Industry


THE blockchain consortium Aura, co-founded by industry giants such as LVMH, Prada Group, Cartier (Richemont) and OTB, was designed to address the various challenges faced by the luxury sector. These challenges include ensuring product authenticity, managing digital property and product traceability.

Digital Passports for Luxury Products


One of the major levers of Aura technology lies in the implementation of digital passports for luxury items. Brands such as Loro Piana, Tod’s and Prada have integrated these passports into their products. Accessible through a QR Code or an NFC chip, these passports allow consumers to know the origin of products, including the provenance of raw materials, the different stages of production and the environmental footprint.

Data Ownership and Security Certificates


These digital passports are not only information tools. They are also tamper-proof and non-duplicable, making it possible to establish certificates of ownership. This feature is crucial for the second-hand market, providing sellers with tangible proof of ownership and authenticity. In addition, it creates a bridge between brands and item owners, facilitating services such as repair or customization.

Exponential Growth


Three years after its launch, the Aura blockchain boasts more than 40 million “luxury” products on its private blockchain. Companies like OTB Group have enthusiastically adopted this technology, encrypting over 580,000 products for their brands such as Marni, Jil Sander and Maison Margiela in 2022, a growth of +200% compared to the previous year.

The Strategic Importance of the Second Hand Market


The second-hand market represents a considerable opportunity for luxury houses. It is estimated that this sector could generate up to 20% of luxury companies’ revenues by 2030. Brands like Rimowa have already started to integrate NFC chips in their products to create digital certificates of ownership, thus strengthening their position in this growing market.

An Expanding Ecosystem


The Aura consortium is not just limited to clothing and jewelry brands. It now has around forty members from various fields such as fashion, jewelry, watches, automobiles and spirits. This diversity of industries shows the scale and versatility of blockchain technology in the luxury sector.

Key factors of success


The following factors explain how Aura surpassed 40 million products:

  • The participation of major luxury brands guaranteeing the authenticity and traceability of the products.
  • The use of secure technologies such as QR Codes and NFC Chips.
  • Growing adoption of the second-hand market.
  • A continued increase in membership of consortium members.


Through these means, the Aura blockchain was able to not only establish itself in the luxury sector, but also set new standards for the future of this industry.

Source: www.journalduluxe.fr

Cyril CH

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