Kering Eyewear Launches the Blockchain-Based “V.I.R.T.U.S.” Project – InvisionMag

Kering Eyewear Launches the Blockchain-Based “V.I.R.T.U.S.” Project – InvisionMag

(PRESS RELEASE) Kering Eyewear takes a major step forward in its sustainability strategy by launching and staging the new V.I.R.T.U.S project: a Verified, Integrated, Reliable, Trustworthy, Unique and Secure data exchange platform built upon the blockchain technology as a key enabler of assessment and traceability of all operations involved in the manufacturing system.

This substantial move comes as a further attestation of Kering Eyewear’s objective to comply with the Kering Group’s sustainability pillars: Care for the planet, Collaborate for people and Create innovation, grounded on low-impact solutions and innovative materials that will ultimately inspire and empower future generations to design and craft truly sustainable products.

Started in 2018, the new V.I.R.T.U.S. system adopts the blockchain technology on a regulated platform that will allow the company to efficiently measure and quantify the impact of all parties and processes throughout the production flows. Every partner in the Kering Eyewear network will be called on to record directly on the digital platform the data and information required to verify and confirm that each link within the chain is actually adhering to the quality standards and to the environmental, social and ethical practices set out by Kering Eyewear.

This new governance structure, incorporated within Kering Eyewear’s already groundbreaking business model, represents a pioneering case in the industry where a luxury company implements a proprietary tool to ensure the vertical mapping and scrutiny of its value chain throughout an extremely widespread and articulated organization; an expanded ecosystem made up
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