Australian shoe companies Case Shiel and The Kickz will be deploying VeChain Toolchain, an extensive blockchain platform for supply chain and data management solutions, to validate the authenticity of Nike’s Air Max 1.
Illegal copying of product brands is one of the biggest roadblocks in the growth of retailers and retail evolution today. It is hindering the global supply chain processes to the extent that people are losing trust in their favorite brands and demanding a complete overhaul of the supply chain industry.
A data analysis firm Statista.com revealed recently that plagued products would result in losses over $320 billion worldwide. And one company that offers a potential solution to this recurrent problem is VeChain. Powered by blockchain technology, the VeChain Toolchain has seen industry-wide applications from healthcare data management in Cyprus to enhancing pork traceability in China so far.
About the highly-anticipated product
This time, shoe manufacturers from Australia have partnered to deploy VeChain Toolchain in maintaining the exclusivity of Nike’s soon-to-be-released product – Air Max sneaker ‘Cherry,’ which is based on the 2005 release of Studdy SB Dunk model.
Its Twitter post dated June 24 offers a sneak peek into the limited series Nike shoes, which boasts shy pink base, brown leather overlays, and a cream-colored Swoosh, a fresh choice of colors inspired by the Neapolitan ice cream.
Given the product’s exclusivity and the anticipation surrounding its release, the two shoe companies want to leave no stone unturned in ensuring that there are no counterfeit Nike products along the supply chain. And the integration of the VeChain Toolchain will help consumers in knowing the authenticity just by scanning a QR code at their retail outlets.
VeChain Toolchain to bolster Nike’s originality
VeChain’s blockchain platform will validate crucial product information such as manufacturing date, location, warehousing information, and supply chain handlers. Consumers can then check whether the limited edition custom sneakers they plan to purchase are really worth the lavish price tag.
According to the VeChain CEO, Sunny Lu, the integration of VeChain Toolchain for supply chain visibility of a world-renowned brand will set the stage for mass blockchain adoption. This will highlight blockchain potential to transform any mainstream industry, he said.
Meanwhile, a Reddit user called Nopers5 lauded VeChain’s efforts in drawing attention to its revolutionary platform by partnering with two small-scale retailers. It is essentially calling Nike’s attention by targeting retailers that support the sale of its licensed products. That’s an excellent product placement strategy, it said.