Pop the Veuve, LVMH has Made the Blockchain Move!
Look around your college campus, workplace, or airport. What’s probably the #1 tote bag you see? A Louis Vuitton tote. Ah yes, the classic brown LV tote bag has taken everyday culture by storm and there is basically no escaping the checkered printed, LV monogram design… real or fake. Now, LVMH has decided that it’s an issue and is using blockchain technology to make sure Louis Vuitton, and their other brands, stay luxury power houses.
LVMH, is a French multinational luxury goods conglomerate headquartered in Paris. For those who don’t know, the houses (or brands), that LVMH owns includes not only Louis Vuitton but also Veuve Clicquot, Dior, Givenchy, Marc Jacobs, Bulgari, Hennessy, Dom Perignon, and more.
Or as I like to say for short -- all of my favorite things.
If you haven’t seen the news (a.k.a if I’m your blockchain news source #honored), LVMH has officially jumped on the blockchain train. They are preparing to launch in May or June using the AURA cryptographic provenance platform. The reason? You guessed it! To prove the authenticity of their high priced goods. LVMH announced that will be starting with brands Louis Vuitton and Parfums Christian Dior. After that, they are set to expand to all 60+ of their luxury brands and even competitors.
So why is this just happening now?
Well, realistically I’m sure this has been in the works for much longer than the public has known, but even still, I have to say I was a bit surprised that these designer figures weren’t some of the first people to be gung-ho blockchain. That being said, most true haute-couture empires are still relatively old fashion when they come to technology and adopting. But hey, better late than never!