Having first piloted the protection of its watches using blockchain technology last year, Vacheron Constantin is rolling out the anti-counterfeiting measure to every watch it produces.
The Vacheron Constantin pilot, started in May 2019 and saw watches in the Les Collectioneurs collection digitally tagged and traced.
It appears that experiment was a success, leading to the wider implementation by the Richemont-owned brand, although it will be the end of next year before the plan kicks in.
“As one of the first watchmakers to ever pilot a digital certificate based upon blockchain technology, in May 2019, the next step for our maison is to extend the digital certification to all of our collections. We are happy to foster the creation of an open innovation ecosystem around blockchain for luxury”, says Louis Ferla, Vacheron Constantin CEO.
“Digital identities will transform the way one owns valuable assets, enabling owners to track the product life cycle, share or prove ownership, and benefit from tailored services attached to each timepiece. On top of proof of ownership, our clients will benefit from blockchain’s ability to store all information about a timepiece, including technical information, user guides, certifications, and product history. Our clients will benefit from a new galaxy of services, such as seamless resell on Watchfinder and online repair requests”.
Richemont has so far not said it will extend the use of blockchain across all other brands.
Blockchain technology is a distributed database system based on encryption-secured information that does away with the need for paper-based authentication, which can be forged.
It thus makes it possible to create a digital certificate of authenticity that is impervious to any attempt at counterfeiting and which follows the watch throughout its lifespan, even if it changes owner several times.
In another initiative to engage with owners of its watches, Vacheron Constantin is launching The Hour Club, a digital platform exclusive to the brand’s customers, will serve as a hub for the traceability and authentication of its watches.
Owners of Vacheron Constantin watches will also have access to experiences, events and exclusive content through the Club.