Lenzing honored at Austria’s Corona Awards for blockchain use, economic contribution to region
LENZING, Austria, November 7, 2019-
On November 4, 2019, Lenzing AG won the “Digital Corona” in Gold. The coveted business prize was awarded for the first time in this category. It is awarded to companies that have dynamically advanced the digitization of business processes, products, services and business models in recent years. At the premiere, Lenzing was delighted to receive the first prize for the introduction of the blockchain technology for fiber identification along the textile value chain.
“Consumers increasingly want to understand the ingredients and suppliers of the products they buy, requesting a new level of transparency and traceability. With the introduction of blockchain technology, Lenzing is pursuing the ambitious goal of creating full transparency across the value chain, driving change in an industry where less than five percent of the top 250 apparel brands can track their garments back to the fiber origin”, Stefan Doboczky, CEO of the Lenzing Group, says. Lenzing enables its customers and partners to identify TENCEL ™ branded fibers across each production and distribution step from fiber-to-retail. The technology also allows consumers to verify the garment composition and the underlying textile supply chain at the point of sale, simply by scanning the barcode with a mobile device. As a result, Lenzing also directly supports the business with its very sustainably produced TENCEL™ lyocell fibers.
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