Retraced Blockchain Solution for Fashion Industry Transparency goes LIVE!
FOR IMMEDIATE RELEASE, July 3, 2019
Name/Organization: retraced GmbH
Retraced Announces the Live Launch of its B2B, Oracle Blockchain-powered solution to bring Supply Chain Transparency to Fashion Brands around the World.
- Retraced, a German start-up, has created a transparency solution that allows end-consumers to learn more about the sustainable aspects of the fashion industry
- The transparency solution is powered by Oracle’s Hyperledger Fabric Blockchain Platform, and presents a new business use-case for blockchain technology.
- The first live demonstration with CANO will help connect consumers with the makers of fashion and offer insights into the production process and raw materials.
- Retraced already has a number of fashion brands on board to grow their impact on the fashion industry
Retraced GmbH (“retraced”) today announces the live launch of its blockchain-powered solution for supply chain transparency in the fashion industry. The start-up , based out of Düsseldorf, Germany has partnered with their first partner brand, CANO Clothing Company GmbH, to offer transparency for the production of its handcrafted leather shoes which are made in Mexico. With retraced, CANO now has a new way to monitor their sustainable and fair manufacturing standards and showcase relevant product insights to the end-consumers. Retraced has plans to offer its transparency-as-a-service solutions to other fashion brands interested in connecting better with conscious consumers.
Supply Chain Insights For Consumers
Retraced ‘s solution collects supply chain information from CANO and makes it available for the end-consumer. CANO, a sustainable clothing brand founded in 2016, plans to use retraced to help enhance the consumer experience for their boots production for the Winter Collection 2019. With the retraced solution, CANO is able to trace each of their products, from creation to end-consumer, and collect useful information to help make their supply chain more efficient. CANO’s customers will be able to scan their shoes with the soon-to-be-released consumer app and browse different insights that highlight the sustainable and fair practices that go behind the making of the shoe; for example: what type of leather was used, which processes were used to manufacture the leather, and who the artisans are that turned the leather into CANOs.
The company is partnering with the Oracle’s Innovation Group to strategically leverage blockchain technology characteristics of immutability and multiple-participant validation in order to enhance the reliability of their solution. Retraced co-founder, Lukas Pünder, recently summed up the general benefits of this collaboration:
“We are really excited! Working with a fair fashion brand like CANO is key for us and is a ‘win-win’ for all parties involved, and for transparency. It allows us to further test and improve the solution’s real-world flexibility, while also helping CANO customers learn more about the ethical and sustainable production standards. Thanks to Oracle and the blockchain, we can now offer the fashion consumer a powerful verification method that they can trust”
Innovative Blockchain Use-Case for Business & Society
Retraced’s implementation with CANO demonstrates a new use-case for blockchain technology in the business world and could help advocate for positive social change in the industry. By utilizing a decentralized model for data collection in the fashion industry, retraced helps uncover additional levels of transparency with regards to ethics and fair trade. Consumers can use these insights to better inform their spending and purchasing decisions, thus applying pressure on brands to address local sustainability challenges in fashion manufacturing.
Retraced Partners with Multiple Fashion Brands to Grow Impact
While CANO is retraced’s first client, the company already has plans to scale their solution’s impact, starting first with the German sustainable fashion market and then expanding to the rest of the fast-growing industry. The company has already secured a number of commitments from notable brands that will go live with retraced in September 2019. These include:
- AFew – Düsseldorf-based contemporary, urban apparel and footwear brand aiming to promote fair and sustainable production standards
- John W. Shoes – Handmade leather shoes with fair production and natural materials based in the EU.
- Jyoti – Clothing & accessories out of organic raw materials made by fair wage labor in their own workshop located in India.
These brands already claim to have sustainable manufacturing operations. These upcoming collaborations, in combination with CANO, will showcase the flexibility of retraced’s solution, as it traces around 100,000 products and provides transparency for a diverse array of supply chains operating, in 3 different continents.
Retraced offers a blockchain-powered transparency-as-a-service solution for fashion brands by collecting relevant and trustworthy information and displaying this in interactive ways to the end-consumer. Retraced allows fashion brands to get in-depth, real-time supply chain information, allowing them to identify bottlenecks and quality issues, and act to implement the necessary process improvements. Retraced also offers a new customer touchpoint and a unique shopping experience. Simultaneously, retraced gives consumers valuable insights into the various sustainable and fairness issues in the manufacturing process. The combination of reliable transparency and consumer engagement puts increasingly more pressure on fashion brands to improve their supply chain standards.
If you would like more information about retraced, and how their disruptive solution plans to change the fashion industry, please call Lukas (+491624493453) or email firstname.lastname@example.org