Forty-two percent of Millennials and 37% of Generation Z say they want to know what goes into products and how products are made before they decide to buy, according to a McKinsey 2019 survey of chief apparel purchasing officers.
Brands are listening to consumers, as Millennials and Gen Z are driving 85% of global luxury growth, according to Luxe Digital. Luxury labels wanting to go the sustainable route, are building plans to create products that make reducing waste, animal welfare, sustainable sourcing, carbon footprints, or materials reuse or recycling a central element of their brand.
“When it comes to climate change, we can no longer wait to take real action” said François-Henri Pinault, chairman and CEO of Paris-based Kering Group, who along with LVMH has made commitments to reduce their carbon footprints.
In fact, this desire for sustainable products does not just come from the younger generations. According to research, 66% of all consumers say they are willing to pay more for sustainable goods.
Luxury brands pivoting to sustainability such as Kering, LVMH, and Prada -- who has pledged to replace the nylon in its supply chain for its sports line Linea Rossa with a sustainable version by 2021 -- are simultaneously looking for a way to engage their consumers by providing transparency and authentication to its digitally savvy consumers. But for many brands going this route, the question is: “How?”
Brands seeking to create an immutable record of the fashion supply chain for their consumers — the “who, what, when, where” of each step, from raw materials to finished product — have more than one option in how to do that. Blockchain has become the hyped-up vehicle for a brand to show transparency in its supply chain, but Blockchain is not the only way.
Certilogo provides stand-alone tools to brands that have the goal of transparency. With “smart tags” that can be scanned by consumers’ smartphones, allowing the brand to demonstrate the history and authenticity of each product, as well as allowing the consumer to participate in the historical information of each item, Certilogo gives brands a cost-effective strategy to engage brand consumers, authenticate their purchases, and demonstrate transparency - with or without Blockchain.
Hundreds of millions of authentic items tagged and tracked by Certilogo can be secured to a Blockchain distributed ledger at any time, thanks to the acquisition of Viveat, one of Italy’s most innovative Blockchain startups, back in 2018.
Brands who are already using other Blockchain solutions will find Certilogo as an indispensable tool to “fill in the blanks” of Blockchain data. The data in a Blockchain is only as accurate as the people who put it there, and Certilogo’s technology provides brands with the capability to track each product in its supply chain from its creation to its end buyer, and beyond.
In its paper, “Blockchain for Digital Transformation: When and Why?” Certilogo breaks down how its technology performs an indispensable service for brands who want to display transparency, whether they are ready for Blockchain or not, while engaging with their consumers.
“Luxury brands eager to go the sustainable route have a real opportunity with today’s digital technology to stand up and say, ‘You can trust us, and we have the receipts to prove it’,” said Michele Casucci, chief executive officer of Certilogo. “Certilogo is here to help brands provide those receipts.”