LVMH Métiers d’Arts has partnered with SMX to ensure perfect traceability of its raw materials for its range of luxury brands.
SMX is a provider of brand protection and authentication services. The partnership with LVMH Métiers d’Art is a research and development project aimed at improving the traceability of raw materials in the fashion and luxury industry.
The SMX offers an attractive technological solution that permanently marks any type of material, whether solid, liquid or gaseous. Equipped with an integrated digital reader, the user is able to read the material data in real time, without extensive laboratory testing.
This unique and revolutionary technology allows the complete tracing of products in order to verify ESG ethical sources (environmental, social and good governance criteria used to analyze and evaluate the degree to which sustainable development issues are taken into account in corporate strategy).
Using SMX’s tagging technology and digital blockchain platform, fashion brands can efficiently sort, recover and reuse the raw materials contained in unwanted or unusable products. Indeed, an estimated 92 million tons of textile waste is generated each year by the fashion industry, a figure that is expected to increase by 60% by 2030. This partnership is a step forward in reducing this negative impact.
The success of these joint projects will enable full product traceability and then lay the foundation for a tangible and measurable transition to a sustainable circular economy for LVMH Métiers d’Art. This project is expected to be completed in early 2022.
“Companies are increasingly championing a new vision to embody their leadership role in society and the impact of their operations and products on the environment. Leading luxury and lifestyle brands are actively moving from a linear to a circular business model,” said Haggai Alon, CEO and founder of SMX.
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Featured Photo : © LVMH
