Briefing

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Mastercard demoed Provenance blockchain solution that counters fake fashion at retailer Fred Segal Sunset

August 5, 2019

Briefing:
  • Fashion Blockchain – Mastercard developed Provenance, blockchain solution that tracks source and verifies authenticity of clothes bought from retail store
  • QR Code – Customers scan QR code on garment tag to find more information about product
  • Combating Fakes – Solution designed to combat counterfeits, which made up $323 billion in 2017 for online goods, with luxury brands losing $30.3 billion
  • Limited Edition Collections – Partnered with retailer Fred Segal Sunset and fashion discovery platform MADE to launch three limited edition collections from women designers and artists, with first collection to feature designs from Rodarte and artwork by Mari Eastman
  • Technology Demonstration – Customers were able to try technology at Fred Segal Sunset offline and/or online store between August 2 and 14, 2019

Image Source: Mastercard Newsroom

Image Source: Mastercard Newsroom

Sectors: Financial Services, Information Technology, Wholesale and Retail Trade, Consumer Non-Durables
Functions: Customer Experience and Service, IT Infrastructure, Research and Development, Supply Chain and Logistics
Organizations: MasterCard Inc., Fred Segal, Rodarte LLC, Endeavor Operating Company LLC (IMG)
Source: 

Original Publication Date: August 2, 2019

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