The fast-growing consumer desire for sustainable clothing is increasing demand for blockchain apparel solutions that allow brands to communicate traceability and ethical sourcing. The luxury apparel industry is adapting to three key challenges. Firstly, there is the rapid growth of counterfeiting, which has grown into a global and highly-sophist
Louise Mercer, Chief Experience Officer at Everledger, argues that new retail behaviours from the last 12 months won’t be unlearned in the luxury goods market. This rapid evolution pushes the need for digital provenance up the agenda.
Peter Hughes, Head of Australia & New Zealand at Everledger, explains how a not-for-profit body for the Australian wool industry will use the Everledger Platform to create new sources of value for wool farmers, manufacturers and retailers.
The Global Brand Counterfeiting Report has recently estimated losses of nearly $100bn, demonstrating the growing extent of counterfeiting in luxury goods.
In the mid 2010s, blockchain broke free of its tag as a cryptocurrency technology. New applications have demonstrated the wider ability of blockchain to disrupt supply chains where there is a need for increased efficiency, transparency and interoperability across supply chains and where opaqueness has led to concentration of control.