TrusTrace to showcase with HCL Technologies at 2020 World Economic Forum their AI, Blockchain and IoT powered Supply Chain Traceability and Circularity Platform

TrusTrace, a leader in supply chain traceability and circular solutions in the fashion and textile industry, and HCL Technologies (HCL), a leading global technology company, today announced that they are hosting live demonstrations of TrusTrace’s AI, Blockchain and IoT powered platform, at the World Economic Forum 2020 in Davos, Switzerland. The presentation is part of HCL’s Tech Showcase Zone, which will demonstrate how engineering, product innovation and technology will shape new age business models over the next decade.

TrusTrace and HCL are working together to showcase how sustainable fashion brands are using leading edge technologies to collect supply chain data, verify and validate supply chain data and then presenting it to end consumers to promote better choices that help the environment and society. As the fashion industry contributes to more than eight percent of the global carbon footprint, TrusTrace’s mission is to help the industry to achieve carbon neutrality.

In the recently concluded COP 25, the fashion industry issued a strong call to action to achieve carbon neutrality. Traceability and trackability are the fundamental blocks to calculate and reduce product level carbon footprint. In the last three years, many brands have used TrusTrace to achieve high levels of traceability and transparency across their supply chains. Currently many of these brands are communicating their sustainable practices to end consumers in their stores, websites and through retailers and e-commerce platforms. Using a Unique Garment Identifier, they are promoting renting, reuse, repair and recycle options.

“Through technologies such as AI, Blockchain and IoT, we are able to deliver more efficient data collection and a higher quality of data. We have delivered 90 percent automation gains to brands, helping them accelerate their journey to sustainable fashion” said Madhava Venkatesh, CTO of TrusTrace.

"Consumer brands are planning to introduce circular options to reduce waste, yet many face supply chain issues when trying to increase the number of sustainable products in their portfolio. “As a future looking organization, that believes in exploring emerging technologies and empowering cutting-edge start-ups, HCL is pleased to be working with TrusTrace to demonstrate how its platform can enable more sustainable practices for the fashion industry,” said Kalyan Kumar, Corporate Vice President and Chief Technology Officer, HCL Technologies.

"HCL’s' global reach and approach to using technology to impact on customers’ businesses made it a natural partner for TrusTrace," said Shameek Ghosh, CEO of TrusTrace. "Most retailers and brands are seeing 35 percent higher sales velocity for sustainable products and the industry sees this as a positive trend for a brighter future of the planet. We are very excited to demonstrate at WEF how our customer brands from Europe and North America are using the TrusTrace platform."

This ground-breaking innovation was made possible by TrustTrace's in-house R&D Team via HCL's ETO Open Innovation Program.

The technology will feature within the HCL Pavilion, which includes a Tech Showcase Zone, representing Technology for the Digital Enterprise 4.0, today. Please visit the live showcase from 21st till 23rd Jan 2020 at the HCL Pavilion, The Escher Raumdesign, Promenade 115, 7270 Davos Platz.

TrusTrace is a Supply Chain Traceability and Circularity platformpowered by AI, Blockchain and IoT to enable industry wide collaboration for product traceability, supply chain management and circularity without compromising business confidentiality. Founded in 2016, TrusTrace is headquartered in Stockholm, Sweden with its tech center in Coimbatore. It has customers in the Nordics, Germany, France, UK and the US and 2000 suppliers from 35 countries across the globe.

About HCL Technologies

HCL Technologies (HCL) empowers global enterprises with technology for the next decade today. HCL’s Mode 1-2-3 strategy, through its deep-domain industry expertise, customer-centricity and entrepreneurial culture of ideapreneurship™ enables businesses to transform into next-gen enterprises. 

HCL offers its services and products through three business units - IT and Business Services (ITBS), Engineering and R&D Services (ERS) and Products & Platforms (P&P). ITBS enables global enterprises to transform their businesses through offerings in areas of Applications, Infrastructure, Digital Process Operations and next generational digital transformation solutions. ERS offers engineering services and solutions in all aspects of product development and platform engineering. Under P&P, HCL provides modernized software products to global clients for their technology and industry-specific requirements. Through its cutting-edge co-innovation labs, global delivery capabilities and broad global network, HCL delivers holistic services in various industry verticals, categorized under Financial Services, Manufacturing, Technology & Services, Telecom & Media, Retail & CPG, Life Sciences & Healthcare and Public Services. 

As a leading global technology company, HCL takes pride in its diversity, social responsibility, sustainability and education initiatives. As of 12 months ended December 31, 2019, HCL has a consolidated revenue of US$ 9.7 billion and its 149,000 ideapreneurs operate out of 45 countries. For more information, visit www.hcltech.com

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