(PRESS RELEASE) Kering Eyewear takes a significant step ahead in its sustainability technique by launching and staging the brand new V.I.R.T.U.S undertaking: a Verified, Built-in, Dependable, Reliable, Distinctive and Safe knowledge alternate platform constructed upon the blockchain know-how as a key enabler of evaluation and traceability of all operations concerned within the manufacturing system.
This substantial transfer comes as an additional attestation of Kering Eyewear’s goal to adjust to the Kering Group’s sustainability pillars: Take care of the planet, Collaborate for folks and Create innovation, grounded on low-impact options and revolutionary supplies that can finally encourage and empower future generations to design and craft really sustainable merchandise.
Began in 2018, the brand new V.I.R.T.U.S. system adopts the blockchain know-how on a regulated platform that can permit the corporate to effectively measure and quantify the affect of all events and processes all through the manufacturing flows. Each companion within the Kering Eyewear community will likely be referred to as on to file straight on the digital platform the information and data required to confirm and make sure that every hyperlink throughout the chain is definitely adhering to the standard requirements and to the environmental, social and moral practices set out by Kering Eyewear.
This new governance construction, integrated inside Kering Eyewear’s already groundbreaking enterprise mannequin, represents a pioneering case within the trade the place a luxurious firm implements a proprietary device to make sure the vertical mapping and scrutiny of its worth chain all through a particularly widespread and articulated group; an expanded ecosystem made up of greater than 20 key suppliers that, in flip, work with a lot of contractors and sub-contractors distributed throughout Italy and overseas.
The truth is, since its founding in 2014, Kering Eyewear has all the time operated with a multi-tier provide chain, at native and world ranges, to ship an awfully aggressive and differentiated vary of sun shades and optical frames for all of the manufacturers featured in its portfolio. Teaming up with the best-in-class companions within the trade is a significant driver for the corporate’s profitable enterprise mannequin but in addition a particularly difficult situation within the present shift in direction of the brand new operational system.
This initiative goals at encouraging larger transparency and growing consciousness concerning the affect that every stakeholder has on the worth chain, selling a peer-to-peer storage community by which each participant will likely be a part of the optimistic change, working extra intently and transparently below a shared imaginative and prescient of belief and respect.
On this progressive context, the mixture of cutting-edge know-how and radical integrity will likely be a required situation to incentivize and strengthen the continuing dialogue and cross-collaboration between all entities, which Kering Eyewear firmly considers as an important motion and a foundational factor for future enterprise development.
Disruptive innovation, sustainability and respect for folks and the planet are paramount values for Kering Eyewear, values that are additionally embraced by the brand new V.I.R.T.U.S. tech revolution and its mission to synergically combine a number of voices to hint, monitor and join a complete quantity of data and figures inside a sensible repository for every passage integrated within the manufacturing chain.
The blockchain is a centralized, distributed ledger that can permit all events to contribute to the creation of Kering Eyewear’s product-specific database by univocal and unalterable transactions, with none intervention from intermediaries. The cryptographic safe system avoids hacks and manipulations whereas well timed knowledge updates, replications and synchronizations create belief, authenticity and transparency within the accounting asset.
All knowledge uploaded to the ledger result in the entire traceability of the item for consumption, following the product’s path straight from its origins – from the provenance of uncooked supplies and elements to processing, last meeting and associated certifications – due to this fact delivering an actual, full and dependable overview about each motion and facet behind the crafting of the eyewear of at this time and tomorrow.
With this outstanding undertaking, Kering Eyewear used the Blockchain platform as a place to begin, creating a sophisticated answer that permits real-time workflow all through completely different firms, settles knowledge alignment and integration points and gives each companion with full visibility on its lively contribution inside the entire provide chain.
After the pilot launch in 2018 with the preliminary participation of 5 companions, the undertaking has quickly developed to at the moment have 16 companions concerned, and its availability is forecasted to advance and lengthen to the complete Kering Eyewear Provide Chain beginning subsequent 12 months, together with the direct participation of Certottica, the Italian Institute of Certification of Optical Merchandise.
“V.I.R.T.U.S. is a posh and difficult journey by actual innovation and sustainability”, remarked Barbara Lissi, Kering Eyewear’s world head of provide chain. “After a 3-year launch part, we are actually capable of begin constructing a transparent and clear roadmap of our total provide chain, reaching detailed evaluation and information concerning the provenance and traits of every composition and every manufacturing approach behind what we do. We consider that amassing and sharing truthful info, monitoring down the supply of the uncooked supplies and elements used, is essentially the most constant and respectful approach to corroborate the standard of our merchandise and their full compliance with our ethic and aesthetic requirements.”
“Fostering innovation means adapting state-of-the-art know-how to the philosophy of collaboration and sharing on the coronary heart of our firm”, commented Daniel Bellini, Kering Eyewear’s world head of IT & planning. “Our blockchain-based methodology ensures the safety, safety and authenticity of each transaction offering full identifiability and traceability of our merchandise and companions by verifiable and immutable knowledge. This initiative not solely represents a real revolution for the trade but in addition a profound and inevitable transformation of our progressive path in direction of elevated effectivity and clear communication”.