ShinWon, a South Korean fashion brand, has teamed up with Retraced, a blockchain-based IT platform, to guarantee complete transparency throughout its textile and fashion supply chain. This partnership is a component of ShinWon’s larger plan to comply with strict international laws that require the fashion sector to operate with more ethics and transparency.
Apart from its collaboration with Retraced, ShinWon has formed a specialized team to improve its supply chain management platform. Through routine assessments and methodical partner management, this group will make sure that all partners abide by applicable legal requirements as well as ethical standards.
In order to improve the monitoring of cotton usage, ShinWon has also built a “detection algorithm” that pulls pertinent terms from data backups. With the help of this technology, production can be transparently tracked from raw materials to completed goods, increasing supply chain accountability.
Through this relationship, the company is committed to ESG (Environmental, Social, and Governance) management and transparency, a ShinWon spokesperson emphasized. By completely respecting information openness throughout all aspects of its business operations, the company hopes to uphold corporate ethical responsibility and increase consumer trust.
