Retraced unveils blockchain solution for transparency
July 30, 2019 - Germany
Retraced has unveiled its blockchain-powered solution for supply chain transparency in the fashion industry. The start-up is partnering with Cano Clothing Company to offer transparency for the production of its handcrafted leather shoes made in Mexico. Retraced’s solution collects supply chain information from Cano and makes it available for consumers.
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, based in Düsseldorf, Germany, has plans to offer its transparency-as-a-service solutions to other fashion brands interested in connecting better with conscious consumers.
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 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, said, “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.” 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 utilising a decentralised 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.
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. (SV)