COS, the premium brand of the fashion house H&M, cooperates with the block chain platform VeChain to make its own supply chain traceable for customers.
H&M has not yet officially confirmed the new partnership, but main investor VeChain is already thinking about how the cooperation could look like in the future.
COS was founded in London in 2007 and now has almost 290 stores in 44 countries. Blockchain investment company Cream suspects that the cooperation could be used to create added value for “Resell”, COS’ second-hand marketplace: “When selling items of clothing, for example, they could be linked to a so-called NFT blockchain token, which would enable the owner to use the crypto token to provide perfect proof of the authenticity and ownership of the item of clothing.
Another benefit of the cooperation of VeChain and MyStory could be to optimize the internal supply chain of COS.