Louis Vuitton turns to blockchain in battle against copycats

LVMH, owner of numerous leading brands including the luxury French label Louis Vuitton, is turning to blockchain technology in its fight against copycats. It is hoped that this project will keep counterfeit goods off the market.

LVMH manages over 60 high-end brands, including names such as Dior, Dom Pérignon and Hublot. The group is now preparing to launch a blockchain platform to demonstrate the authenticity of luxury goods, which it is hoped will be easier to verify in this way.

Initially, the technology will only be used for Louis Vuitton goods and Christian Dior perfumes. It will track the supply chain from raw materials to the point of sale and beyond, including for inbound products. This will provide unquestionable clarity on the true origins of goods.

Protection of intellectual property

The application is expected to be extended to many more of LVMH’s luxury brands in the near future. In addition, the company also wants to use blockchain technology to protect intellectual property. The platform is scheduled to be operational by May or June of this year.

Source: Newsbit