Security Matters (ASX: SMX) (“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. 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.
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 of its kind project is expected to be completed in early 2022.
Commenting on the partnership, CEO and Founder of SMX, Haggai Alon, said, “Companies are increasingly championing a new vision to epitomize the leadership role it plays in society and the impact of its operations and products on the environment. Major luxury & lifestyle brands are actively transitioning from a linear to a circular business model.
Creating a closed-loop, sustainable supply chain for the luxury fashion industry
An estimated 92 million tons of textile waste is produced each year by the fashion industry, a figure that’s expected to rise 60 per cent by 2030.
In December 2020, SMX launched the Fashion Sustainability Competence Centre to help slow this trend and enable brands to become more efficient and environmentally friendly.
By using SMX’s marking technology and digital blockchain platform, fashion brands can efficiently sort, reclaim and reuse raw materials in unwanted or discarded products. Effectively reducing the number of virgin materials required, the amount they send to landfills and their carbon emissions to deliver on the ESG expectations of their consumers and stakeholders.
“With SMX’s white label B2B offerings, luxury brands can shape the future of the industry by creating desire inducing narratives that connect tangible sustainable ESG practices with their transparent traceability strategy to create a profitable lifetime relationship with their customers – that is circular rather than linear or transactional. We are helping to craft tomorrow’s sustainable luxury with SMX’s innovative technology.” Alon concluded.
