Security Matters has teamed with LVMH Métiers d'Art to develop projects aimed at improving the transparency and sustainability of textile products | Source: Viktor Drachev

Security Matters Teams Up With LVMH Métiers d’Art in Shift to Circular Business Model

One in two people throws their unwanted clothing straight into the bin, meaning more than 20 million garments end up in landfills each year, according to Edge Fashion Intelligence.

One way of combatting the waste produced by the fashion industry is to introduce tag and trace technology which allows brands to sort and reclaim raw materials that would otherwise end up in a landfill. As one of the most environmentally damaging industries, the fashion industry is quickly recognising the value of tracing tech in transitioning to more sustainable practices.

Security Matters (ASX:SMX) is one tech company that is aiding the move towards circular, closed-loop business models in the fashion industry. In a recent collaboration with LVMH Métiers d’Art, Security Matters said it will be working with the luxury brand giant on a series of research and development projects aimed at improving the transparency and sustainability of products.

Companies are increasingly championing a new vision to epitomize the leadership role it plays in society and the impact of its operations and products on the environment. Major luxury & lifestyle brands are actively transitioning from a linear to a circular business model.

Haggai Alon, CEO and Founder of Security Matters said

Expected to be completed by early next year, the partnership will enable ‘complete traceability of origin’ and ‘provide full transparency of the value chain from source through the manufacturing processes, to retail and recycle and reuse’, according to a press release.

Described as ‘the next generation solution to address the anti-counterfeit, brand protection, client liability and track and trace markets’, Security Matters’ technology is based around a sub-molecular marker system that is recorded on the blockchain. According to Security Matters, the chemical-based ‘barcode’ can be applied to a solid, liquid or gas and permanently marks any object to be read using the company’s unique ‘reader’.

In 2020, Security Matters launched its Fashion Sustainability Competence Centre which aims at enabling fashion brands and its value chain partners to make use of its technology in order to meet carbon neutrality targets and become more sustainable overall.

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