Luxury conglomerates LVMH, Richemont and Prada have announced an “unprecedented collaboration”, they are joining hands on a blockchain consortium which will enable consumers to trace and authenticate their goods. The luxury sector is notoriously known to be plagued with the issue of counterfeits and knockoff products. According to research firm Frontier Economics, the global trade
Prada
Needless to say, the fashion industry is the second leading sector in the world that’s contributing pollution. Increasing demand for clothes means greater consumption of water, use of pesticides, chemicals, and petroleum in the production of textiles, all of which puts a strain on the environment. Exacerbating the problem, our growing appetite for new clothes