Frank and Oak uses blockchain technology to demonstrate sustainability

YarnsandFibers News Bureau 2022-01-05 10:16:32 – Canada

Canadian sustainable lifestyle brand, Frank and Oak, open its first store in Asia, in Shanghai, on December 1. The store in Shanghai's downtown Tai Koo Li mall, which was intended for both disassembly and re-use, sets a new sustainability norm for retail establishments in China.

Frank And Oak's most iconic winter products are featured in the first collection, which is manufactured with sustainable fabrics and technologies. These include their one-of-a-kind yak sweater and accessory collection, which incorporates VeChain-traced yarns and processes. The yarn comes from UPW, a well-known luxury yarn manufacturer, and the upstream yak wool comes from Shokay, a sustainable textiles company that buys yak wool directly from Tibetan herders. Frank And Oak, Shokay, and UPW have all pledged to donate 1% of the proceeds from this collection's sale to a Sichuan grassland conservation program. Customers can scan the QR code in-store to learn more about the style's backstory.

Frank And Oak is a B Corporation, which means it meets the highest standards of verified social and environmental performance, transparency, and accountability, as well as being legally obligated to consider the impact of their decisions on their employees, customers, suppliers, community, and the environment. The use of blockchain adds to the company's reputation for high standards. Frank And Oak announced their desire to provide longevity, utility, and style without jeopardising the environment by storing immutable data on VeChainThor.

With the fashion industry rapidly shifting toward goods and supply chains that have a lower environmental impact, there is a greater demand for detailed and reliable upstream supply chain data. That is why Shokay, a provider of yak wool, chose VeChain in the first place. Shokay partnered up with UPW as a raw materials source to deliver sustainable yarns to Frank and Oak, who were searching for a means to express their efforts in ethical and sustainable production to their clients. Shokay and UPW were able to employ VeChain's blockchain technology to give companies a turn-key, long-term solution.

Brands can become more sustainable and meet climate change targets more easily by using blockchain as the foundation for building an ecosystem of sustainable manufacturing. On the one hand, upstream providers benefit from VeChain's ready-to-use blockchain offering since it makes collecting supply chain data and tracking production evidence simple. Downstream brands, on the other side, may better convey their sustainability initiatives directly to their customers by employing VeChain's data visualization module, just as VeChain has done with H&M, COS, and now Frank And Oak.

VeChain has been able to be productive and nimble in adapting our technology to better serve our planet over the previous few years. The VeChainThor Blockchain is one of the most environmentally friendly L1 smart contract platforms available, bridging the gap between blockchain technology and real-world green business. VeChainThor is well-designed to serve both enterprise users from all levels with its sophisticated technical features, balanced governance structure, and sustainable economic model, thanks to Proof of Authority consensus.

VeChain provides completely traceable, batch-level data and related third-party services inside our partnership network by introducing our blockchain-enabled sustainability solutions. Enterprises and their end consumers may check that environmental and social compliance is being met to the highest of standards with all information available on the trustless data service platform VeChain ToolChain™. VeChain's blockchain technology streamlines data and information in a secure and efficient manner, reducing risk at every stage.

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