Bulgari to adopt LVMH blockchain technology A network to ensure the traceability of luxury products and donations for the fight against the Covid-19

In recent days, Bulgari has announced its membership in the AURA Blockchain Network – a platform presented last May by the LVMH Group at VivaTech that will allow the authentication and tracking of luxury goods. In the case of Bulgari, the blockchain system will also allow customers who will participate in one of the charitable initiatives initiated by the brand to follow, through a dedicated digital experience, the full path of their donations, up to their final beneficiary. At the moment, the brand's customers can contribute in two ways to Bulgari's fundraisers, either by purchasing Save The Children branded products or contributing to the Free Virus Fund established by the brand to support the efforts of science against Covid-19. The company has also developed a new strategy to reduce the environmental impact of its activities.

Blockchain technology, however, also has advantages for another type of consumer: those of the secondary luxury market. According to estimates by ThredUp, the turnover of the resale market will reach 41 billion over the next two years. A general implementation of this technology would one day eliminate the problem of counterfeiting even on resell platforms, while also providing an easier guarantee to be verified remotely in case purchases, as often happens, take place remotely and without the seller and buyer interacting directly. AURA and blockchain applications are actually very extensive and, although the platform is designed for luxury products, there are development opportunities for individual retailers or independent brands as well.