- New Look partners with TrusTrace for blockchain traceability, furthering sustainability goals.
- The collaboration aims to reduce CO2 emissions and increase transparency in the fashion supply chain.
- TrusTrace’s open platform integrates with stakeholders and provides detailed insights for sustainable practices.
In a major step towards sustainable practices, British fashion retailer New Look has joined forces with blockchain traceability startup TrusTrace. As part of New Look’s ‘Kind to our Core’ initiative, which promotes responsible sourcing, the partnership aims to increase transparency in the fashion supply chain.
🛍️ British fashion giant New Look is making a stylish leap towards sustainability with #Blockchain! Together with #TrusTrace, they revolutionize responsible purchasing, reduce emissions and make fashion more environmentally friendly.
🌎💚 Someone should introduce them to #VeChain! 🚀🚀 pic.twitter.com/Da8U0OofmL
— Collin Brown (@CollinBrownXRP) November 29, 2023
Over the past two decades, the fashion industry has witnessed an increase in the number of disposable items, which has contributed to environmental concerns. With the clothing industry responsible for as much as 20% of industrial water pollution, New Look is working to tackle these issues. For example, the production of a single pair of jeans requires approximately 1,800 liters of water.
To combat these environmental challenges, New Look has set ambitious targets, including reducing CO2 emissions by 46% by 2031 and achieving Net Zero status by 2040. The partnership with TrusTrace and its blockchain traceability platform will expectations play a crucial role in achieving these objectives. sustainability goals.
TrusTrace CEO Shameek Ghosh highlighted the platform’s open architecture, which facilitates integration with various stakeholders, including retailers, manufacturers, suppliers, certification bodies and sustainability solution providers. This integration aims to provide detailed insights into New Look’s supply chain, promoting transparency and accountability.
Reducing CO2 emissions, especially those from suppliers (Scope 3 emissions), is a key focus for New Look, with a 22% reduction already achieved.
TrusTrace, known for its work with major sports brands such as Adidas, Asics and Brooks Running, sees New Look as another prominent addition to its customer base. The blockchain traceability platform previously raised $6 million in a 2021 funding round.
As fashion giants increasingly adopt blockchain technology for traceability and sustainability, New Look’s partnership with TrusTrace marks a crucial step towards a more responsible and transparent fashion industry.