Blockchain technology is revolutionizing supply chain tracking. The potential was also recognized by the Swedish fashion group H&M.Cos, the luxury brand of the fashion label H&M, seems to have entered into a partnership with the supply chain management platform VeChain in order to be able to trace the supply chains of the textiles from the cotton harvest to the sale. This emerges from a communication from VeChain; an official confirmation of the partnership will not be given by the fashion group at the time of going to press. VeChain CEO Sunny Lu recently announced the project with a “Fast Fashion Brand” during an AMA (ask me anything).
Lu did not specifically name the company, but added that VeChain had recently entered into a partnership with the company. The CEO also stated that the company concerned had already “traced more than 4,000 products” using “MyStory” – a tracking platform operated by VeChain.Speculations quickly spread that it had to be H&M. The VeChain platform has already been used to verify the organic production of Arket brand products, a subsidiary of H&M. The Chinese media platform Uncle Cat also discovered a sweater from the Cos brand that was signed with a MyStory tag.