MILAN — Aura Blockchain Consortium welcomes its first two furniture companies to its community of luxury brands. The Swiss-based organization announced on Tuesday that Italian luxury furniture brands Poltrona Frau and Savio Firmino have joined as associate members. The two companies, like many other luxury furniture brands, aim to strengthen authenticity, traceability, incorporate certification and meet the requirements set by the EU’s new environmental regulations. Sector-specific regulations.
The consortium said in a statement that Poltrona Frau and Savio Firmino will add “new depth to the authority and scope of Aura’s capabilities” and that in the coming months companies will be able to create bespoke digital products for their products. He said he would implement the passport (DPP) initiative. .
Digital product passports can connect physical products to a digital record, storing product information and sourcing information across the supply chain for deeper traceability.
Poltrona Frau and Savio Firmino are paving the way for product authentication in the household sector by collaborating with Aura to develop immutable blockchain-based digital IDs and certificates of ownership for their products, a press release said. explained.
The consortium, which spans everything from cars to fashion, currently has more than 50 members, with five to be established in 2022: LVMH Moët Hennessy Louis Vuitton, Diesel’s parent company OTB Group, Prada Group and Richemont’s Included were Cartier and Mercedes-Benz.
Earlier this year, the consortium announced that it had registered 50 million products on its private blockchain.
Frank Le Mole of LVMH. Lorenzo Bertelli of the Prada Group. Cartier’s Angela Auyon. Aura’s Roman Carrere. Karolin Strauss, Strategic Director of Mercedes-Benz and Stefano Rosso of OTB Group. Lise Barbeau Cochet
Based in Trentino and founded in 1912, Poltrona Frau will initially offer digital product passports for two of the brand’s most iconic products: Vanity Fair and the Archibald Collection. The digital product passport will then be rolled out across the collection.
Florence-based Savio Firmino will also introduce digital product passports for its signature pieces, starting with its iconic children’s collection Notte Fatata. This initiative provides information about each item’s origin, materials, and craftsmanship. Additionally, Savio Firmino is considering integrating EU deforestation regulation certification into its blockchain tracking, which is expected to become mandatory by 2026. According to a statement, Savio Firmino had already recorded his products on the blockchain since 2021, but chose to seamlessly change blockchain providers in 2021. In 2024, you will have access to Aura Blockchain Consortium’s industry-leading premium blockchain expertise.
“We are currently planning to enhance our blockchain capabilities, and Aura Blockchain Consortium’s industry leadership, nuanced expertise, and powerful solutions make this community the perfect partner for us. The process of changing chain providers was seamless and we are proud to be working together on the future of transparency, quality and customer experience in luxury goods,” Cosimo Savio, CEO of Savio Firmino, said in a statement.
Brands are quickly adapting to new blockchain capabilities, especially to track products through resale and repair, and to authenticate and combat counterfeit goods.
OTB brands such as Jil Sander, Marni and Maison Margiela have announced that they will introduce certificates of authenticity for their clothing and accessories in their fall 2024 collections.
Blockchain’s private and closed network strives to address the privacy concerns of luxury brands. Its technology will also help member brands prepare for future European Union sustainability-focused requirements.
This particularly addresses growing regulatory demands, in particular the Ecodesign Regulation for Sustainable Products, which aims to improve the circularity, energy performance and other environmental sustainability aspects of products submitted to the EU. This applies to high-end furniture manufacturers, which is difficult to do so. Romain Carrère, CEO of Aura Blockchain Consortium, explained to WWD.
“The Ecodesign Regulation for Sustainable Products, which came into force in July, imposes transparency and traceability as a regulatory requirement for luxury brands sold on the European market. Many products in the EU will be digital by 2027. “Product passports will be required and luxury furniture manufacturers will feel the impact of this regulation across a wide range of operations, from raw material reporting to supply chain processes,” he said.
Savio Firmino Provided by Aura Blockchain Consortium
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