Italian fashion group OTB has joined the AURA Blockchain Consortium as its fourth founding member. The other founders include luxury conglomerate LVMH, Prada Group and Richemont’s Cartier.
OTB owns eight fashion brands, including Diesel, Maison Margiela, Marni, Viktor&Rolf, and Jil Sander and has more than €1.3 billion ($1.5bn) in revenues.
LVMH initiated the blockchain platform in 2019 as an anti-counterfeit solution enabling customers to verify that its products are originals. However, since then, the objectives have evolved to include sustainability.
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