LL Bean, the outdoor clothing and equipment retailer, has just announced its intention to enter into partnership with Loomia.
Loomia, the creators of a patented weightless fabric with inbuilt micro-circuitry that can be attached to clothing and other textile-based products and which tracks their usage and wear, is currently planning a token sale for some time in Q1 of 2018 to finance the next stage of its expansion.
Blockchain Offers Usage Insights
The upcoming ICO is designed to incorporate Loomia’s revolutionary smart apparel technology, known as TILE, into a blockchain solution based on the LOOMIA token that will be designed to incentivise users to share their usage data with clothing manufacturers like LL Bean.
Manufacturers entering into partnership with Loomia are hoping to benefit from access to apparel usage data in near real-time that will allow them to track the quality of their products as well as their popularity. They are also hoping that it will help them to determine popular trends among fashion-conscious consumers.
Loomia already boasts a host of pre-existing partnerships with the likes of North Face, Calvin Klein and even Google. As part of its blockchain expansion, in mid-December it also enlisted Carole Kerner, former president of fashion outfit Donna Karan, as an adviser to the project.
Kerner brings with her over 25 years of experience from within the fashion industry and states that she was attracted first and foremost by Loomia’s future vision of offering manufacturers and retailers the ability to develop a “deeper understanding of how garments are used once they leave the store.”