On February, 3rd 2018 LuxTag’s® CEO and President of the Access Blockchain Association (Malaysia) Rene Bernard joined the “Stakeholders’ Round Table/ Focus Group Discussion” organized by the research team of the “Industry-Academia Collaborative Blockchain-based Regulatory Framework Research Project”.

We all want to look good, and the major part of our appearance is the clothes we are wearing. Fashion trends and suitable style is crucial, and even the slightest detail can ruin the looks. Imagine if your socks don’t match or your shirt is inside out, maybe there is a hole in your pants… sounds horrible, but what if the attire you are wearing is counterfeited? In this case, it does not even look bad but can cost you a lot of money. The main reasons why people buy expensive brand clothes are because they last longer, have higher quality, look good and have a brand name. But what if you think you are paying for all these benefits, but it turns out that the apparel is fake. That makes all the benefits disappear, however, some people buy counterfeited goods by choice. And at the time it seems fine, the price is lower, and you can barely notice the difference, but in real life, it creates way more harm than is known. In this case, the cheapest option doesn’t look that fun anymore.

In 2017 footwear and handbags were the most counterfeited goods in the world. The numbers are high and have been increasing every year, counterfeited clothes cost, approximately, $500 billion for the fashion industry every year. But these frauds affect not only fashion houses, but also everyone around. When someone buys a fake handbag or a nice pair of shoes they don’t have any idea where their money goes. At first sight, it looks like an innocent purchase, but that street seller is just the tip of the iceberg. If you look closer, you will see that counterfeited goods are not only lacking quality but also made from dangerous and harmful materials. And workers who must bring the item to life, usually, are people from impoverished countries, and they don’t get any primary healthcare or rights. The existing situation might look desperate, but there is an answer to this issue — blockchain technology! And here is where LuxTag® comes, our team came up with the solution to fight counterfeiters — FashionTag.

FashionTag is a digital tag that ensures customers the authenticity of their purchase. LuxTag created a smart way to use the blockchain to provide a digitized tagging solution for luxury products, documents, fast-moving consumer goods, provenance tracking and, of course, fashion. Why it is essential for the manufacturers to have it, well, there are plenty of reasons, but we pointed out five of the most important.

Why FashionTag powered by blockchain is an amazing way to boost your business:

1.Makes you stand out

Don’t wait for the future to come, make it today! And what is a better way than integrating your business with the latest technology trends? One of the biggest ones is blockchain technology; it is an innovative way of distributing your brand and making sure it is safe and certified. Of course, there is a lot of uncertainty about it: what is blockchain, how to use blockchain for your business, benefits of blockchain and etc. Therefore, LuxTag adapted it more consumer-friendly and easy to use. Now you only need to create a magnificent design, and we will do everything else. We will register the apparel on the blockchain, insert the unique data about the product and give it a tag. After, customers can easily scan the QR code and find out all the details about the particular product. We promise this will not only make your business stand out but also integrate a new and innovative way of securing your brand.

2.Builds trust with customers

Imagine yourself in the shoes of a customer who wants to buy new brandy pants. It seems easy, but when you face all the counterfeited goods, it becomes a bit more complicated, especially, if you are going to order those pants online. There are plenty of online shops that offer a wide range of fashion products. Unfortunately, many of them provide fake ones as well. For the ordinary buyer, it is hard to make sure the garment is original. That is why, when you, as a manufacturer, provide a unique tag that ensures that your brand is real, customers start to trust. Reliable brand image not only builds trust but also shows that you care about your customers, their money and safety.

3.Saves money

Fashion is one of the most popular luxury goods, therefore, it becomes very attractive for counterfeiters. And as mentioned before, each year it cost about $500 billion, but that doesn’t mean people buy it by choice, sometimes they pay the same amount of money they would pay for the real apparel, unknowingly purchasing a fake. But when you ensure FashionTag for your brand, it saves not only yours but also your customers‘ money.

4.Brings more customers

When you apply FashionTag to your brand, customers will be satisfied with the product, they know it’s real and unique. What will they do next? They’ll share information with their social circle, and that circle will become your new clients. Taking care of your customers and making sure their purchase is worthy, gives you the best advertisement.

5. It increases the intelligence of consumers

Insights about customers’ needs are crucial for business, but usually, it comes before the actual purchase or just after it and then it is almost impossible to follow those sold goods and how they serve the customers. But with FashionTag, everything is way easier because blockchain technology allows seeing all the information about the product. For example, a customer bought your branded hat, he registers as the owner of it, but maybe after some time he decides that this hat doesn’t fit his style or he found a new one, so, he sells it. In most cases, after that, you won‘t get any further insights about the hat, but with FashionTag the new buyer registers as the new owner and can give his or her insights on the product. Blockchain makes business insights come naturally and without any particular campaign. So, give it a try!

If you still have some questions or doubts about blockchain technology or want to know more about LuxTag and our innovative solution of using it, don’t hesitate and visit our website (www.luxtag.io)

About LuxTag

LuxTag is an anti-counterfeit and anti-theft solution provider, incorporating track and trace systems to provide business intelligence to their clients. LuxTag is built utilizing state of the art blockchain-based applications that issue digitized certificates of authenticity for tangible products.

®“LuxTag”, Trademark registered.