RealReal raises awareness of National Consignment Day with new programs

The Real

REAL
has a series of initiatives planned for National Consignment Day, the trade holiday she founded five years ago to raise awareness about resale and help create a more sustainable future for fashion. Among its efforts, The Real Real is partnering with Mytheresa, launching a circular ReSource lab, expanding consignment categories and making its instant payment program national.

The RealReal, An Online Marketplace for Luxury Goods Resale, Partners with Global Luxury Fashion Ecommerce Platform Mytheresa to Drive Resale Engagement with its Fast-Growing US Customer Base .

Mytheresa will reward both its customers and the consumers of The RealReal for the recirculation of their handbags and support for the circular economy. Shippers of handbags with a resale value of $ 750 and above on The RealReal will receive a $ 200 voucher for Mytheresa.

“We are thrilled with the opportunity to be part of The RealReal’s consignment community,” said Heather Kaminetsky, President of Mytheresa, North America. “We strongly believe that it is important for us to strengthen circularity as part of the fashion ecosystem and to offer something special to our customers in the United States”

RealReal is launching a Circular ReSource Lab in a major step to expand its circular economy efforts beyond resale. The Lab is a hub for testing, learning and sharing impactful solutions to the fashion waste crisis. The Lab recycles by taking the waste pile of luxury fibers and fabrics and transforming them into unique high-end creations. ReCollection 02, coming this holiday season, will be the first release from Circular ReSource Lab.

“Fashion is a waste crisis,” said James Rogers, director of sustainability at The RealReal. “Resale is a big part of the solution, and we’ve extended our work in recent years to repairs and recycling to deal with the high volume of parts that cannot live on in their current condition.

“Our Circular ReSource Lab is a hub for innovation, which will include initiatives such as our ReCollection recycling program, collaborations and education as we share the results with industry to help make fashion more circular, ”Rogers added.

“It’s time to realize the future of fashion,” said Julie Wainwright, Founder and CEO of The RealReal. “If the industry continues on its current trajectory, the global carbon footprint could increase to 26% by 2050 and will miss the 1.5 degree trajectory defined by the Paris Climate Agreement by more than 50%.

“Recirculating just one in five items would put the industry on track to meet this goal,” Wainwright added. “Consignment is something anyone can do to make a difference. “

RealReal is expanding its shipment to new categories such as sports and outdoor gear, collectibles and electronics, beyond its initial focus on luxury handbags, designer clothing, fine jewelry, watches and men’s clothing. One of the last major categories launched by the platform was Home, which includes fine art and furniture as well as $ 28 pillows and Hermes blankets at $ 2,895.

RealReal offers 85% of the sale of sports and outdoor equipment, collectibles and electronics on consignment, but the category could cover a range of more ordinary, special and rare products, as the platform- form reaches critical mass.

Rati Sahi Levesque, president of The RealReal, said the introduction of the new category was driven by demand from shippers and the strength of the business opportunity.

“A quarter of our site traffic comes from male buyers and we believe that expanding our assortment into these additional categories will both attract this base and attract new members,” said Sahi Levesque. “It’s still very early days, but what we’re seeing is encouraging.

“It’s no exaggeration for a shipper who sells their Moncler down jacket on The RealReal to sell their Salomon skis, or for a customer buying vintage Michael Jordan sneakers to be delighted to see that we also have vintage Jordan trading cards. “Sahi Levesque added. “We are optimistic about the opportunities these categories create for us to continue to grow the business while meeting demand from our members. “

RealReal makes shipping easier and more flexible. The platform gives shippers more choices to deposit, exchange or get paid instantly for the items they put back into circulation. Get Paid Now offers on-the-spot payments for a wide variety of brands and items, and the program is now expanding nationwide. Flexible selling options include in-person or virtual appointments for drop-offs at 18 locations nationwide, as well as door-to-door pickups for free direct shipping.

“We are making it easier than ever to join the circular fashion movement and it couldn’t come at a more critical time for the health of the planet,” said Wainwright.