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

Briefing

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

Accelerator
Online Commerce, Web3 Ecosystems, Tokens and Consensus Mechanisms

Market Disruption
Informed and Empowered, Innovation Partnerships, Intellectual Property, Intelligent, Data-Optimized Supply Chains

Business Model and Practices

Business Model
and Practices
Evolved Distribution Channels, Innovative Partnerships, Optimized Supply Chain

Sector
Consumer Non-Durables, Financial Services, Information Technology, Wholesale and Retail Trade

Function
Customer Experience and Service, IT Infrastructure, Research and Development, Supply Chain and Logistics

Organization
Endeavor Operating Company LLC (IMG), Fred Segal, MasterCard Inc., Rodarte LLC

Source

Original Publication Date
August 2, 2019

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