The industry data-as-a-service tech company and Products of Change member, Fabacus has struck up a strategic new partnership with Universal Products & Experiences (UP&E), the global consumer products and theme park merchandise division of NBCUniversal.
This strategic collaboration will see Fabacus’ proprietary Xelacore technology being made available to UP&E’s partners in an effort to support their Environmental Social Governance (ESG) strategies in response to developing legislation around the world.
As part of wider global digital transformation and a focus on traceability, the introduction of Xelacore to create official digital registers will provide comprehensive data insights to enhance product visibility globally, empowering UP&E and its partners to navigate the evolving retail landscape, in line with forthcoming ESG reporting requirements already taking shape within the EU.
The digital catalogue benefits licensees, retailers and CPG partners by creating a master reference point for licensed products, allowing products to be authenticated and discovered more easily, driving increased sales and brand protection.
Andrew Xeni, CEO and Founder of Fabacus, said: “This collaboration represents an exciting adoption of our technology within the licensing space, giving UP&E and its partners the opportunity to gain deeper product visibility at a global scale, whilst unlocking new opportunities to stay ahead of the curve. We look forward to working with the UP&E team and their licensing and retail partners.”
Fabacus will be joining Products of Change’s line-up of innovators and change makers to be showcasing at Las Vegas Licensing Expo next week.
Among the technology the team will be presented will be the emerging concept of the Digital Product Passport, a new transparency tool developed to present end consumers with the open and honest sustainability story behind each product detailing the materials used in the production of the item, where those resources have come from, who and what has been involved in the manufacturing process, and the distance each item has travelled to make it the retail shelves.
The idea of the Digital Product Passport is to arm customers with the sustainable credentials of each and every product they pick up, enabling them to make an informed purchase at the till.
Starting in the batteries and textiles sectors, it’s anticipated that by 2030 all products will carry a Digital Product Passport.
