DataDot's DataTraceDNA to be used by new textiles JV
The Directors of DataDot Technology Limited announce that Coats plc (“Coats”), the world's leading industrial threads and consumer crafts business, and VTTM Holdings LP (“VTT”), provider of VerifiTT, a unique anti-counterfeiting technology incorporating DataTraceDNA, have formed a joint venture company, CoatsVTT Limited (“Coats VTT”).
CoatsVTT has been granted global rights to use VerifiTT technology, incorporating DataTraceDNA, as protection against counterfeiting and related fraudulent use of global fashion brands in textiles, garments, apparel and related textile products. Coats plans to use the technology in a unique traceable thread that uses the verification properties of DataTraceDNA to combat counterfeiting and improve chain of custody management in the textiles industry.
VerifiTT will be blended into the raw material used to create sewing thread in a way that can only be detected using a proprietary reader. The thread will then be used in the manufacture of garments, footwear, bags and other items to determine the authenticity of products marked with specific brands.
Commenting on the announcement Paul Forman, CEO at Coats, said: “Today's announcement perfectly illustrates our company vision to lead the industry and to offer services of high value to our customers. Counterfeiting is a significant and growing problem for global brands. We're delighted to be working with VTT in this joint venture and are looking forward to creating innovative, solution-focused products for our customers whilst growing Coats as a dynamic business.”
John Pettengill, Executive Director of the VerifiTT business, said: “The JV with Coats will provide an essential vector in delivering the technology drawing on the established relationships and advanced logistics of the world's leading supplier of sewing thread.”
Ben Bootle, CEO of DDT, said, “The decision by Coats and VTT to adopt a global product authentication solution using DataTraceDNA offers a gilt-edge endorsement of DataTraceDNA's authenticating properties”.
Established in 1755, Coats is the world market leader in industrial yarns and threads and consumer crafts. The company operates in more than 70 countries, with 73 factories and over 20,000 expert employees producing products for billions of consumers across six continents. Sales in 2010 were $1.6B.
VerifiTT is a security technology developed specifically to protect against counterfeiting and related fraudulent use of global fashion brands in textiles, garments, bags and footwear. The technology is designed to be used covertly and includes various optional layers that further enhance the high level of protection provided. VerifiTT is also used to prove chain of custody in relation to the supply of fashion commodities such as merino wool used in carpets or high fashion garments. VerifiTT offers the highest level of security available and as such all sensitive detail underpinning the technology is closely guarded and all dealings with existing and prospective customers are held in strict confidence.
DataDot Technology Limited