SMX flags key partnership with LVMH Metiers D’art
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The company’s latest co-operation shows SMX’s technology is perfectly suited to foster the global shift to a circular, closed loop economy.
Security Matters (ASX:SMX) has established itself as a market leader in the shift to a circular closed-loop economy, with its tech platform that allows physical objects to be digitised on the blockchain.
And today, the company rolled out its latest partnership with a leading global luxury lifestyle conglomerate’s sourcing division, LVMH Métiers d’Art.
The agreement will see both companies collaborate on a series of R&D projects focusing on the traceability of origin for the raw materials used in LVMH Métiers d’Art’s supply chain.
The first SMX and LVMH Métiers d’Art collaborative R&D project has been completed and the second project will be completed in early Q1, 2022, followed by commercial discussions.
LVMH (Moët Hennessy Louis Vuitton) is a world leader that specialises in luxury goods headquartered in France.
Through its Métiers d’Art division, the LVMH group also dedicates investment and resources to its supplier network, for both quality assurance purposes as well as the sourcing of raw materials.
This collaboration furthers the work of SMX’s Fashion Sustainability Competence Centre, which proves companies with a transparent shared platform for recycling, reclaim and sort their goods back into high-quality materials and merchandise, to enable a fully circular fashion economy. The collaboration follows the recent SMX announcements surrounding their successful cotton developments.
“The future of sustainable luxury is creating desire through narratives that connect tangible sustainable ESG practices with the brand’s transparent traceability strategy,” CEO, Haggai Alon said.
The result is a “profitable lifetime relationship with its customers that is circular rather than linear or transactional”.
“We are helping to craft tomorrow’s sustainable luxury with SMX’s innovative technology,” Alon said.
Like other SMX research partnerships across various sectors such as industrial production, resources and food agriculture, the move from LVMH is representative of a new paradigm where major industries “are actively transitioning from a linear to a circular business model”, Alon said.
With successful completion of the joint project with LVMH Métiers d’Art, it will enable full traceability of origin and subsequently lay the foundations for a tangible and measurable transition to the sustainable circular economy with an in- depth knowledge of the supply chain.
This article was developed in collaboration with Security Matters, a Stockhead advertiser at the time of publishing.
This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.