Stefano: From the first meeting, I had the feeling that this was something important. Think about the fight against counterfeits. Before blockchain, even experts could not always tell if a product was fake or not. Now, in our group, every product has a certificate of authenticity thanks to Aura. That is already a huge step.
Vogue: With those EU regulations becoming obligatory in 2027, how do you see Aura’s position?
Lorenzo: When the regulation started to move in that direction, we also pushed the regulators, saying that if everybody has to play the same game, it will be more fair. The regulation is important, but Aura was not created because of it. We created Aura and then the regulation came.
Franck: The digital product passport today is seen as a regulatory obligation. For us, it was first a way to tell the story of a product. So I would say Europe is catching up with what Aura already foresaw.
Vogue: Was it difficult to collaborate as competitors at the start?
Stefano: OTB was the first to jump into the consortium as a founding member. And I have to say that, of course, initially, there were some doubts — how is this going to work, because we compete every day for so many reasons. But I have to say, since day one, when we arrived, I had a feeling this was something [with an importance] beyond any of us.
Franck: We are probably a specific, special animal. Because for the first time ever in the luxury industry, some brands who were competitors decided to partner to create something unique.
Lorenzo: When potential new members approach us, there is a committee where we analyse them brand by brand. The most important criteria of all, I would say, is being trustable.
Vogue: Aura’s blockchain secures the product’s record once data is entered across its different life stages. But how do you ensure the underlying data is true?
Lorenzo: I think you got the point. Aura is not a certification of that information. At point zero, Aura certifies that, once the information is written, it follows a chain. But at the moment, it is not the job of Aura to verify the reality of what is written in the blockchain. This has to be fundamentally understood.