- Kristopher Fraser
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According to a new report from Certilogo, access to a quick and simple
confirmation that a product is authentic will soon be the new normal in
luxury thanks to LVMH and blockchain technology. The report, “Making
Blockchain Real: LVMH and the Future of Authentic Luxury”, explores the
cultural and commercial potential of blockchain technology for product
authentication and supply chain transparency, two emerging priorities for
luxury consumers in the digital age.
Coindesk reports the LVMH project will launch in May or June for Louis
Vuitton and Parfums Christian Dior, making LVMH the first luxury
conglomerate to adopt blockchain technology for product tracking and
authentication at scale. “When a leader with the reach and respect of LVMH
decides that product authentication is a must for luxury consumers, it’s
time for every brand with a luxury and premium positioning to pay
attention,” said Michele Casucci, Certilogo founder and CEO, in a statement.
The authentication provider to more than 80 global brands, Certilogo
prepared Making Blockchain Real to identify the unique strengths and
weaknesses of blockchain technology as a platform to build trust, engage
discerning global consumers, and add new value to the luxury purchase
experience.
“Blockchain is one of the most exciting technologies of our generation for
showing consumers where a product came from, who made it, what it was made
from, and that it is authentic,” Casucci said in a statement, “but there
are also some limitations to address.”
The report names 7 developments to watch in the LVMH rollout and its uptake
by brands. “It’s the beginning of a new era for authentic luxury and that’s
good news for everyone,” Casucci added in the statement. “We look forward
to hearing more details from LVMH when they are disclosed.”
