The Aura Blockchain Consortium, which was created by LVMH, Prada Group, Cartier, part of Richemont, and OTB Group in April 2021, has announced the creation of a blockchain-based platform for luxury companies.
According to a press statement, the consortium has launched Aura SaaS, a “game-changing cloud-based SaaS solution” designed to help luxury firms “embrace the blockchain in their day-to-day business operations,” according to a press statement.
The program will improve direct-to-consumer supply chain traceability while also assisting with counterfeiting, ownership inquiries, and responsible sourcing.
Brand members of the platform will quickly onboard, with cheap fees and speedy deployment, to provide increased accessibility. White-label front-end interfaces and web pages will be available on the site, allowing users to simply publish and display personalized brand information on the Aura Blockchain.
In addition to the new solution, the consortium is working on tools for smaller luxury firms looking to shorten their time to market. Consumers will be able to see data on the blockchain using the front-end tools, which will give them an overview of operational components like material provenance.
The implementation will serve as a means of closer communication with customers and a more transparent perspective of the company.