Monday, 17 February 2020
Sovrano

Mastercard Teams Up With Fred Segal Sunset And MADE

Mastercard has teamed up with retailer Fred Segal Sunset and Made to sell limited-edition products that showcase female artists and designers, as well as demonstrate Mastercard’s blockchain-based Provenance solution, which illustrates the journey of a product from start to store.

“The first output from this partnership is a collection from Rodarte designers and sisters, Kate and Laura Mulleavy, featuring artwork by artist and painter, Mari Eastman. This is the first of three limited-edition collections from the Mastercard and MADE collaboration,” the company said in a press release.

Mastercard aims to bring together artists that share a similar vision for the clothing lines. It also wants to showcase its blockchain-based tech; according to the 2018 Global Brand Counterfeiting Report, losses from online counterfeiting have cost the industry $323 billion. Luxury brands are especially susceptible, with $30.3 billion in counterfeit online sales.

Mastercard also aims to offer a clear record of an item’s origin, which will help to boost consumer confidence as well as the awareness of the importance of authenticity.

“We are thrilled to work closely with MADE and Fred Segal on this shared mission to unite female creatives through projects like these that sit at the intersection of art, fashion and technology,” said Sherri Haymond, executive vice president of digital partnerships for Mastercard. “Leveraging innovative technology solutions, we are able to tell the stories of the products consumers are buying.”

There will be exclusive Rodarte pieces at Fred Segal Sunset, and customers will be able to scan a QR code on a garment’s tag to trace the product’s journey. They will also be able to scan when a package arrives with the item.

“Fred Segal is a forward-thinking retailer, so we’re always aiming to empower and inform our customers with cutting-edge technology,” said John Frierson, president of Fred Segal. “Through this unique partnership with Mastercard and MADE, we’re excited to offer an innovative retail experience kicking off with Rodarte, one of our favorite West Coast brands.”


source: pymnts.com
Legal disclaimer: The insight, recommendations and analysis presented here are based on corporate filings, current events, interviews, corporate press releases, and what we've learned as financial journalists. They are presented for the purposes of general information only, and all the information belongs to the original publishers. These may contain errors and we make no promises as to the accuracy or usefulness of the information we present. You should not make any investment decision based solely on what you read here.

Creamcoin Marketcap