LONDON and SAN FRANCISCO,
Oct. 7, 2019 /PRNewswire/
-- Today, on National Consignment Day, global luxury brand
Burberry and authenticated luxury consignment marketplace The
RealReal (Nasdaq: REAL) announced they are teaming up to promote a
more sustainable future for fashion.
The Ellen MacArthur Foundation estimates that more than
$500 billion of value is lost every
year due to clothing not being utilized or recycled effectively,
with some garments in the U.S. discarded after just seven to 10
wears. Through a new partnership, Burberry and The RealReal are
aiming to support and promote the benefits of a circular economy
for fashion by encouraging customers to extend the life of their
products through resale. Through the pilot launching today,
customers who consign Burberry pieces at The RealReal are being
offered an exclusive personal shopping experience in select
Burberry stores across the U.S.
"Leading the way in creating a more circular economy for fashion
is a key element of our Responsibility agenda," said Pam Batty, VP Corporate Responsibility,
Burberry. "The RealReal shares our ambition to promote the circular
economy and keep clothing in use for longer. We know that the
enduring quality of Burberry pieces means their appeal and value is
long-lasting. Through this new partnership we hope to not only
champion a more circular future but encourage consumers to consider
all the options available to them when they're looking to refresh
their wardrobes."
According to The RealReal, resale demand for Burberry has
increased by 64% year-on-year, with searches for Burberry on the
site rising fastest among Millennial and Gen Z customers.
"A brand as storied as Burberry embracing the circular economy
demonstrates the power of resale's impact on both the luxury market
and the planet," said Julie
Wainwright, CEO of The RealReal. "I hope together we'll be a
part of pioneering a future in which circularity is a consideration
for every luxury brand."
Building on their shared ambition to make fashion circular,
Burberry and The RealReal have made a donation to Materials for the
Arts to support its work in helping people rethink the way they
look at materials and waste, as well as educating the public on the
importance of creative reuse.
For more information about consigning Burberry pieces with The
RealReal, please visit therealreal.com/Burberry.
About Burberry
Global luxury brand Burberry has been
at the forefront of sustainability in fashion, with social and
environmental programmes in place for more than 15 years. Driving a
more circular economy for fashion is central to Burberry's
five-year Responsibility agenda to 2022 and as part of this
Burberry continues to expand ways to reuse, repair, donate and
recycle products and materials. During 2018/19, Burberry reduced
its market-based emissions by 43% and procured 58% of its total
energy (including 68% of its electricity) from renewable sources.
Burberry is now carbon neutral across the Americas region, its
EMEIA retail stores and UK operations, and aims to be 100% carbon
neutral by 2022.
A key figure in driving industry collaboration, Burberry is a
founding signatory of the UNFCCC's Fashion Industry Charter for
Climate Action, a signatory of the UN Global Compact, and a core
partner of the Ellen MacArthur Foundation's Make Fashion Circular
initiative, working with industry and NGOs to address key impacts
of the fashion industry. Burberry is also a signatory of The
Fashion Pact, a global alliance between 32 of the world's leading
fashion companies to tackle climate change announced at the 2019 G7
Summit in Biarritz.
About The RealReal Inc.
The RealReal is the world's
largest online marketplace for authenticated, consigned luxury
goods. With an expert behind every item, we provide a safe and
reliable platform for consumers to buy and sell their luxury items.
We have 100+ in-house gemologists, horologists and brand
authenticators who inspect thousands of items available online each
day. As a sustainable company, we give new life to pieces by brands
from Gucci to Cartier, and hundreds more, supporting the circular
economy. We make consigning effortless with free in-home pickup,
drop-off service and direct shipping for both individual consignors
and estates. At our stores in Los
Angeles as well as SoHo and the Upper East Side NYC,
customers can shop and consign and meet with our experts to learn
more about luxury authenticity and sustainability. At our 11 Luxury
Consignment Offices, three of which are located in our retail
stores, our expert staff provides free valuations for high-value
pieces.
About Material for the Arts
A program of the NYC
Department of Cultural Affairs, with support from the Department of
Education and Friends of Materials for the Arts, MFTA is NYC's
largest reuse center supporting nonprofits with arts programming,
public schools, and city agencies. On average MFTA collects over
1.5m lbs. (approx.700,000 kilograms)
of supplies each year which it provides, free of charge, to its
member organizations. In addition to providing materials, MFTA has
an Artist-in-Residence program, an education center, and holds
public events which include gallery openings and community
workshops.
Burberry and The RealReal's generous donation will support
MFTA's nonprofit partner, Friends of Materials for the Arts, which
guides and supports MFTA's education and outreach initiatives
including free field trips for students, warehouse operation
improvements, public programming, and professional development for
educators. Contributions like this are essential to our mission to
encourage creative reuse and environmental sustainability in NYC.
They help us empower students to make art, train teachers to bring
creative hands-on projects into the classroom, and keep the
warehouse open later for our members.
Burberry Press Contact:
Pippa
Cowburn
pippa.cowburn@burberry.com
The RealReal Press Contact:
Erin Santy
pr@therealreal.com
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SOURCE The RealReal