Swedish-German premium brand, Marc O'Polo, has formed a strategic relationship with Blockchain start-up Retraced in order to create better transparency in its supply chain and the ability to individually trace each item.
By doing so, the fashion company is not only addressing an important milestone in its own sustainability strategy but also preparing for the upcoming German Supply Chain Due Diligence Act (GSCA), which will apply to companies in Germany with more than 3,000 employees beginning in 2023 and those with more than 1,000 beginning in 2024.
Susanne Schwenger, CPO Marc O'Polo AG, said that one of the most critical concerns in the sector is complete traceability in the supply chain. He is glad they have found a partner in Retraced who can accompany them on this critical and long-term project in an agile and transparent manner utilizing the newest technology.
The collaboration with Retraced will allow the brand to track the traceability of its products along the supply chain in the future in a digitalized and standardized manner. After successfully onboarding the entire supplier base, the long-term aim is to guarantee that each individual product is entirely and transparently traceable.
Lukas Pünder, CEO & co-founder of Retraced, said that Marc O'Polo and Retraced's cooperation is an exciting step forward for the whole fashion industry. The initiative intends to demonstrate how deep supply chain transparency can be achieved in a scalable manner through effective data interchange between brands and suppliers.
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