Business
The RealReal Expands Consignment, Paves Path to More Sustainable Future
Takes Get Paid Now program national; Launches Circular ReSource Lab to impact fashion waste crisis SAN FRANCISCO, Oct. 04, 2021 (GLOBE NEWSWIRE) -- The
About this update from The Realreal, Inc.
[{"type":"text","content":"Takes Get Paid Now program national; Launches Circular ReSource Lab to impact fashion waste crisis\nSAN FRANCISCO, Oct. 04, 2021 (GLOBE NEWSWIRE) -- The RealReal (Nasdaq: REAL)—the world’s largest online marketplace for authenticated, resale luxury goods—founded National Consignment Day to raise awareness of the importance of resale in creating a more sustainable future for fashion and to drive shoppers to take action by recirculating items they no longer wear. To honor the holiday this year, the company is making luxury consignment easier and more expansive than ever before. Fashion is one of the top polluting industries, contributing 10 percent of the world’s total carbon footprint. Clothing production has approximately doubled in the last 15 years to 80 billion garments per year. A garbage truck’s worth of textiles is landfilled or burned every second, even though 95 percent of trashed clothes could be re-worn, recycled or reused. “It’s time to get real about the future of fashion. If the industry continues on its current trajectory, its share of the world’s carbon footprint could jump to 26 percent by 2050 and it will miss the 1.5-degree pathway laid out by the Paris Climate Accord by more than 50 percent,” said Julie Wainwright, founder and CEO of The RealReal. “Recirculating just one in five items would put the industry on track to achieve that goal. Consigning is something everyone can do to make a difference. We’re 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.” Today, on the fifth annual National Consignment Day, The RealReal is launching four new circular initiatives to more significantly reduce fashion’s impact: Expanding Luxury Consignment To Additional Categories With the introduction of luxury sports and outdoor gear, collectibles and electronics, The RealReal now gives its consignors the ability to sell a broader assortment of items than any other luxury resale marketplace. Increasing Selling Flexibility With Buy Up FrontThe RealReal gives consignors more choice than ever before on how they want to sell: consign, trade or get paid instantly for items they recirculate. Its Get Paid Now program offers on-the-spot payments across a wide range of brands and items, expanding nationally next week. Teaming Up With Luxury Fashion ...