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Dec 11, 2020
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Verofax Asia & AURI to launch sustainable traceability app

By
Fibre2Fashion
Published
Dec 11, 2020

Verofax Asia and AURI, a lifestyle brand in Kuala Lumpur, have announced an MOU to jointly launch an asset digitisation and traceability app for sustainable product passporting, to be adopted by suppliers of fashion and lifestyle products in the industry from Q1 2021. Verofax is a blockchain-enabled traceability and asset digitisation service provider.



Young ASEAN shoppers’ preferences are shifting towards brands that adopt values such as sustainability, environmentally friendly and community engagement. Recent surveys show that over 70 per cent of consumers are willing to pay a significant premium for brands that adhere to such standards. AURI and Verofax share these core values and have teamed up to provide consumers with a seamless application to validate brand claims and increase direct engagement.

Through its webstore, the AURI community is offered a wide selection of ethically sourced products aligned with the brand's sustainable business practices. AURI also empowers the community to become brand ambassadors, offering them attractive rewards programmes in the pipeline.

Participating brands and suppliers will stand to benefit from greater trust and confidence when selling on AURI’s lifestyle online store and be able to validate claims using the Verofax App, powered by AntChain Traceability as a Service (TaaS), according to a press release by Verofax.

Verofax app will enable all suppliers selling on AURI to serialise each item, upload supporting sustainability, and environmental certificates and enable consumers to validate their claims recorded onto Antchain’s immutable blockchain ledger. In addition, Verofax App will allow apparel, garment and lifestyle product suppliers to indulge users with relevant content and empower them to validate claims on ethical sourcing, environmental impact and community support programmes. Suppliers validated on Verofax app can then access global markets and meet compliance regulations such as ‘PRC e-commerce Law’ and other consumer protection laws.

“We are thrilled to partner with AURI in launching the first lifestyle-focused traceability platform in ASEAN. Traceability plays a key role in meeting changing shopper needs, advanced product marketing and access to global markets. Fashion and lifestyle brand owners are set to benefit from increase in sales and reduction in negative reviews/returns. Verofax offers enterprises complete privacy and control over sharing their data, automation of operations and reducing operational cost,” Koh Chen Tien, executive chairman of Verofax Asia said.

“Trust in sustainable brands, is top of mind for young shoppers and will transform the way brands succeed. Sustainable asset tracing will accelerate ASEAN suppliers’ growth and create opportunities through access to global markets,” Wassim Merheby, CEO at Verofax said.

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