Cos – the luxury goods-focused division of fashion heavyweight H&M – has reportedly forged an alliance with blockchain platform VeChain, to roll out detailed supply chain tracing data for its buyers. 

Specifically, Sunny Lu – CEO of VeChain – reportedly disclosed via an “AMA” session, that the platform is joining hands with a “fast fashion brand” to work on a specific project. 

Vechain’s traceability platform – ‘MyStory’ – has been utilized for the verification process of organic manufacturing supporting the manufacturing of one of H&M’s branch companies – Arket’s apparel – 2 years ago. 

Thus, H&M’s high-value brand Cos has reportedly been the next in line, with one of the firm’s jumpers having the tag of MyStory on it. 

Cream – a blockchain and crypto investment establishment and “one of the main driving forces behind VeChain”, reportedly revealed that the collaboration between the two could pave the way for a blockchain-powered enhancing solution for Cos’ second-hand marketplace ‘Resell’. 

“For example, clothing items can have an NFT (non-fungible token) pairing generated at the point of sale, providing the new owner with a token proving authenticity and an immutable record of ownership.”

The cream also believed that VeChain and MyStory could make the internal supply chain more transparent, apart from consumer-facing sustainability monitoring.