Cos, the luxury brand of one of Europe’s largest clothing retailers – the Swedish company H&M Group-has started tracking the supply chain of its products through the vechain blockchain platform.
During a recent ask Me Anything (AMA) q & a session with The Director of the vechain supply chain management platform, Sunny Lu, it became known that the company is working on a new project with a “fast fashion brand” with which it has previously collaborated. Soon there were rumors that H&m might be the mysterious partner.
Lu stated that” more than 4,000 products produced with social and environmental responsibility were tracked ” using MyStory, A vechain – based supply chain tracking platform. The platform was developed in collaboration with the international certification and classification society DNV GL.
Recall that in 2018, VeChain already partnered with h&M’s subsidiary Arket to track clothing shipments. Chinese media platform Uncle Cat found out that the luxury brand Cos, part of H&M Group, is an unnamed partner of Vechain. Representatives of Uncle Cat found “My Story” tags on clothing items in Cos stores.
Given that the head of global sustainability at H&M has previously stated that all products produced by the group will use eco-friendly or recyclable materials by 2030, collaboration with VeChain seems a logical step. In this way, the company wants to prove to customers that it follows the planned plan.
In March, it became known that the British brand Sarah Regensburger is also implementing a solution for tracking supply chains based on the VeChain blockchain. In addition, last summer, VeChain entered into a partnership agreement with the Australian winemaker Penfolds to release a batch of wine for sale, tracked using the blockchain.