Business
The RealReal Releases First-Ever Scientific Measurement of the Resale Impact of Handbags, Fine Jewelry and Watches
TRR Sustainability Calculator Now Quantifies Carbon Emissions Savings and Water Footprint Reduction Across Five Categories SAN FRANCISCO, April 29, 2022
About this update from The Realreal, Inc.
[{"type":"text","content":"TRR Sustainability Calculator Now Quantifies Carbon Emissions Savings and Water Footprint Reduction Across Five Categories\nSAN FRANCISCO, April 29, 2022 (GLOBE NEWSWIRE) -- The RealReal (Nasdaq: REAL) — the world’s largest online marketplace for authenticated, resale luxury goods — today announced the expansion of its Sustainability Calculator, a first-of-its-kind tool that The RealReal developed and launched in 2018 to quantify the impact of resale. It initially measured the greenhouse gas emissions savings and water footprint reduction by recirculating apparel, and now generates savings data for double the number of items on The RealReal’s marketplace. After a year of research and collaboration with environmental experts and consultants, The RealReal Sustainability Calculator now also quantifies the positive impact of keeping handbags, fine jewelry and watches in circulation. On its current trajectory, the fashion industry is poised to miss the 1.5-degree pathway laid out by the Paris Climate Accord by more than 50 percent. But according to McKinsey, recirculating one in five garments by 2030 can actually help achieve that goal. “For more than a decade, we’ve focused on keeping more than 23 million items in circulation in the pursuit of a more circular future,” said James Rogers, The RealReal’s Director of Sustainability. “Since its launch in 2018, the calculator has encouraged sustainable behavior by showing the savings that customers personally drive through what they buy and sell on TRR. I’m thrilled that the calculator now captures the impact data across even more categories, and we look forward to continuing to demonstrate the environmental power of shopping secondhand.” The RealReal’s Sustainability Calculator takes into account the impact of production of raw materials as well as the weight of an item. For apparel, TRR gathers impact calculations for fabrics such as cotton, silk and nylon, and applies those calculations to several fabric blends across its entire inventory. For jewelry and watches, impact calculations included the materials used in straps and casings, including the weight of ceramics and common metals such as golds and silvers, palladium, platinum, brass, bronze and stainless steel.From inception through March 31, 2022, The RealReal has saved 2.8+ billion liters of water (the equivalent of 12 billion 8o...