Daily Newsletter

13 October 2023

Daily Newsletter

13 October 2023

TextileGenesis, ICA seek to improve fashion supply chain ethical practices

Blockchain platform TextileGenesis has signed a memorandum of understanding (MoU) with the International Cotton Association (ICA), to increase digital collaboration and promote ethical trade and sustainability within the fashion and textile industry.

Isatou Ndure October 12 2023

Fashion and textile traceability platform TextileGenesis, which is part of the Lectra Group and the International Cotton Association (ICA) hope this new partnership will help the two organisations improve fashion and textile industry practices.

TextileGenesis’ technology is said to trace the entire sustainable textile supply chain through the digital mapping of materials. The platform facilitates the exchange and tracking of reliable, secure data throughout the lifecycle of materials, which it says contributes to a more sustainable and transparent industry.

The innovative traceability mechanism covers both ends of the textile value chain and is supported by a network of fabric certification partners.

TextileGenesis’ partnership with the ICA means all those involved in the cotton supply chain will be informed they could potentially be doing business with a company ICA has identified as unsafe.

CEO and founder of TextileGenesis founder and CEO Amit Gautam says: "ICA is the world’s leading international cotton trade association and deeply involved across the value chain in settling trade arbitrations, providing them unparalleled insights into companies that don’t fulfil their arbitration commitment.

“It’s one of the key components of risk metrics that we alert our users on at TextileGenesis. ICA cooperates closely with major cotton standards that we partner with creating further synergies between us."

In May, TextileGenesis partnered with Swedish textile-to-textile recycling company, Renewcell to share real-time digital traceability with customers and supply chain partners using TextileGenesis's digital token technology.

In July 2022, ICA signed an MoU with The Aid by Trade Foundation to lay the groundwork for regular exchanges and the definition of common goals between the two organisations.

Clothing and footwear ranked among the top 3 sectors by global ecommerce transactions in 2022

Per GlobalData estimates, food and drink, clothing and footwear, and accommodation were the top three sectors by global ecommerce transactions in 2022. Clothing and footwear accounted for 11% of ecommerce transactions in 2022. While consumers may wish to try on clothing and footwear items to ensure a good fit, enhanced technology that offers sizing recommendations and hassle-free returns services has made them more comfortable shopping for these goods online, accounting for the sector’s high share of transactions.

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