And with the same integrated digital reader, the user is able to read the embedded data across all the different types of materials and products in real time without any need for extensive lab tests. The unique and ground-breaking technology allows for the complete tracing of products to verify ESG ethical sources, enable efficient sorting of materials for waste and provide full transparency of the value chain from source through the manufacturing processes, to retail and recycle/reuse.
“SMX” and “the Company”) a next-generation brand protection and authentication service provider announces a new collaboration with LVMH Métiers d`Art on a series of R&D projects aimed at improving traceability for raw materials in the luxury fashion industry. SMX offers an attractive technological solution due to its easy drop in solution, that consists of a marking technology that can permanently and irrevocably mark any kind of material, whether it be a solid, liquid or gas.
Highlights
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Building his chain of closed and sustainable supply for the luxury fashion industry. The fashion industry produces an estimated 92 million tonnes of textile waste each year, and this number is expected to grow by 60% by 2030, he said. In December 2020, SMX launched the Fashion Sustainability Competence Center to slow this trend and enable brands to become more efficient and environmentally friendly. Using SMX’s tagging technology and digital blockchain platform, fashion brands can efficiently sort, recover and recycle unwanted or discarded product raw materials.
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Successful completion of the joint projects will enable complete traceability of origin and subsequently lay the foundations for a tangible and measurable transition to the sustainable circular economy in-depth knowledge of the supply chain for LVMH Métiers d’Art. The first project of this type is expected to be completed in early 2022. Commenting on the partnership, Haggai Alon, his CEO and founder of SMX, said: Leading luxury and lifestyle brands are actively moving from linear to circular business models.
Effectively reducing the number of virgin materials required, the amount sent to landfills, and the carbon footprint to meet her ESG expectations of consumers and stakeholders. “Luxury brands use SMX’s white-label B2B products to create compelling stories that combine tangible sustainable ESG practices with transparent traceability strategies to create profitable, lifelong relationships with customers. Building relationships can help shape the future of our industry, more likely to be cyclical than linear or transactional.With SMX’s innovative technology, we are the sustainable future of tomorrow. We contribute to the creation of luxury.”