The RealReal and Gucci Launch Circular Economy Partnership
October 05 2020 - 6:00AM
Today, on National Consignment Day, authenticated luxury
consignment marketplace The RealReal (Nasdaq: REAL) announced it is
partnering with Gucci through the end of the year to launch an
online shop featuring pre-loved Gucci items and promote circularity
for luxury fashion.
Additionally, for all Gucci purchases or U.S. consignments made
through The RealReal, the companies will plant a tree through
nonprofit One Tree Planted. This will further help its global
reforestation efforts -- from planting trees that help mitigate
climate change in the Amazon Rainforest to replenishing California
forests damaged during this year’s record-breaking wildfire
season.
The inherent longevity of luxury products support a circular
economy and, by joining forces with The RealReal, Gucci is
promoting this avenue to extend the life of its products even
further. To date, consignment of women’s and men’s Gucci clothing
on The RealReal has saved 230 metric tons of carbon and 10+ million
liters of water, as compared to the environmental costs of
manufacturing those items for the first time.
Gucci is one of The RealReal’s most in-demand luxury brands year
after year. Gucci continues to see strong growth in resale demand
(up another 19 percent this year), and is the most in-demand men’s
brand for the third year in a row. Gucci also commands strong
resale value for consignors, with clothing resale value 2.3x
stronger than average compared to all brands sold on The
RealReal.
“Gucci is raising the bar not only for the fashion industry, but
for all companies by continuously innovating to make its business
more sustainable,” said Julie Wainwright, founder and CEO of The
RealReal. “Together we’re shining a global spotlight on resale that
we hope will encourage all consumers to support the circular
economy and join us in reducing fashion’s carbon footprint.”
For more information about consigning or buying Gucci pieces,
please visit therealreal.com/gucci.
About GucciFounded in Florence in 1921, Gucci
is one of the world’s leading luxury fashion brands, with a
renowned reputation for creativity, innovation and Italian
craftsmanship. Gucci is part of the global luxury group Kering,
which manages the development of a series of renowned Maisons in
fashion, leather goods, jewelry and watches. For further
information about Gucci visit www.gucci.com.
About The RealReal Inc.The RealReal is the
world’s largest online marketplace for authenticated, consigned
luxury goods. With a rigorous authentication process overseen by
experts, The RealReal provides a safe and reliable platform for
consumers to buy and sell their luxury items. We have 150+ in-house
gemologists, horologists and brand authenticators who inspect
thousands of items each day. As a sustainable company, we give new
life to pieces by hundreds of brands, from Gucci to Cartier,
supporting the circular economy. We make consigning effortless with
free in-home pickup, drop-off service, virtual appointments and
direct shipping for individual consignors and estates. At our
stores in LA, NYC and San Francisco, customers can shop, consign,
and meet with our experts. At our 10 Luxury Consignment Offices,
four of which are in our retail stores, our expert staff provides
free valuations.
Gucci Press Contact:press@gucci.com
The RealReal Press Contact:Christine
Heerwagen pr@therealreal.com
The RealReal Investor Relations Contact:Paul
Bieberpaul.bieber@therealreal.com
A photo accompanying this announcement is available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/5b535c10-26eb-4c55-8447-09754cc88c52.
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