In 2021, the three major luxury goods giants LVMH Group, Prada Group, and the Cartier brand of Richemont Group cooperated to establish the world’s first luxury block chain alliance Aura, a multi-node private block chain protected by ConsenSys technology and Microsoft.

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The consortium is also researching traceability capabilities, RFID and NFC utilization, and NFT use cases such as “digital twins,” which provide block chain based product tracking from raw materials to consumer goods from start to finish. LV, Hublot, and Bulgari under the LVMH Group have all participated in the Aura alliance.

The characteristics of the block chain, which are difficult to tamper with and decentralized, further enhance the transparency and traceability of high-end bags, watches and other products. The unified secure digital format itself is an electronic certification, from raw materials to sales points, allowing you to It is safe to buy and use, and it is also very helpful for second-hand transactions.

More importantly, this way of brand communication with customers is closer, and the brand is more exclusive and more advanced.

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What are the Advantages of Labeling Products with NFC Tags?

Labeling products with NFC tags can easily track product information throughout the product lifecycle, including production dates, sale dates, batch numbers, etc. This can help businesses better control inventory, manage supply chains, and improve customer satisfaction.

NFC tags can increase customer engagement and interactivity, customers can scan the tags to obtain more information about the product, such as its uses, raw materials, and production process. This can enhance customer awareness and trust in the product, and increase customer loyalty.

NFC tags can increase product security and anti-counterfeiting measures, customers can scan the tags to confirm the authenticity and quality of the product, protecting them from piracy and counterfeiting. Additionally, businesses can add marketing information to NFC tags, attracting more customers to buy the product and improving marketing effectiveness.

The NFC Technology with Temera

The concept of the Internet of Things seems to be hanging in the air, but once players in the industry chain grasp a certain vertical segment, they may succeed.

In the luxury industry, a leading Internet of Things solution for the fashion luxury industry was born. This is an Italian company called Temera, which has read more than 650 million tags in 60 countries/regions around the world. Its customers include FENDI, Cartier, Bulgari, ARMANI, YSL, PRADA, Zegna, etc., and related technology partners include AsReader, CAEN RFID, IMPINJ, NXP, RAIN RFID Alliance, Zebra, etc.

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In Bulgari watches, Temera’s solution uses three technologies: RFID, NFC, and UHF, and “activates” the interaction between the brand and consumers through exclusive content interacting with NFC. In addition, VeChain Technology, a domestic blockchain company, binds a certain luxury brand of LVMH with online data through an intelligent encrypted NFC chip, realizing the digitalization of products on the chain.

Relying on the “chip” opportunity of the luxury Internet of Things, Temera’s sales in 2019 reached 16.7 million euros, or about 120 million yuan, with a revenue of more than 100 million yuan. Temera, a medium-sized enterprise with more than 100 people, is considered relatively domestically. Excellent, what’s more, the Internet of Things is still developing rapidly in recent years.

Even the shoe and clothing label suppliers that “assemble” chips are also prominent in the red sea of Internet of Things digitalization. For example, the world’s second largest RFID label supplier SML Group, which is preparing to go public, has an annual income of 3 billion. The big man behind the scenes is China’s “label king” “Shaowen Sun holds 95% of the shares, and before the IPO, the dividend was nearly 300 million.

Summary and Outlook

According to GSMA Intelligence, the number of industrial IoT connections will grow 4.7 times from 2017 to 2025, much higher than the expected 2.5 times growth in consumer IoT connections. Behind it is inseparable from the drive of sensor technology, 5G technology, nanotechnology and other technologies.

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The Internet of Things is a long-tail market with “fragmentation” characteristics. Shared bicycles, smart homes, Internet of Clothing… There are too many Internet of Things players from all walks of life, and they have dug their own worlds in this fertile soil. I believe that in the near future, more IoT vertical players like Temera will be born here.

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