H&M launches 1st 'Blockchain-Based Clothing Rental Service'

25th October 2021, Mumbai:

H&M, 'The Swedish retail biggie' is consciously looking at evolving as in responsible fashion brand potentially by leveraging new technologies in the emerging fashion global landscape.

This is been pivoted by teaming up with a credible circular fashion specialist 'Lablaco'.

The brand H&M is experimenting with a rental service in one of its global famed stores based in Berlin, Germany. Importantly the service in question is typically based on hi-tech blockchain, seeking traceability for the journey of each individual item per se.

Needless to emphasize," The benefits of blockchain technology can help fashion brands minimize losses, cost efficiency as a result of counterfeit products amongst other convincing benefits it can drive".

The ultra-secure evolved technology facilitates data storage to its transfer in a designated decentralized network, thus the initiative is purely in the direction of aiming at accomplishing greater transparency for its valued consumers.

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