The RealReal Surpasses $2 Billion in Commission Payouts
April 22 2021 - 9:00AM
Over the past decade, The RealReal (Nasdaq: REAL)—the world’s
largest online marketplace for authenticated, resale luxury
goods—has persistently pursued creating a more sustainable,
circular future. Today, on Earth Day, the company reached two major
milestones in this work: paying out more than $2 billion in
commission for the 18+ million items it has kept in circulation and
achieving carbon neutrality a year ahead of its goal.
“We’ve brought more than 21 million members into our circular
marketplace, educating them about the lasting value of luxury goods
and driving a shift toward more conscious consumption,” said Julie
Wainwright, founder and CEO of The RealReal. “We’ve helped our
community earn billions of dollars in commission by monetizing the
pieces they’re no longer wearing or using.”
The RealReal infuses convenience, ease and trust into selling,
allowing millions of people to unlock trapped value in their
closets and homes. The 18+ million items sold through The
RealReal’s marketplace have generated more than $2 billion in
commission payments to the company’s community of consignors.
Putting their existing pieces into circulation helps reduce the
overproduction of new items and, since The RealReal’s inception,
has saved approximately 896 million liters of water and 18,732
metric tons of carbon through Mar. 31, 2021.*
“Given the acceleration of global warming, it’s critical that
all businesses take action to reduce their carbon footprint,”
continued Wainwright. “Gucci CEO Marco Bizzarri’s CEO Carbon
Neutral Challenge inspired us to work with greater urgency, and
we’ve now achieved carbon neutrality a full year ahead of our goal.
We will continue innovating to reduce our footprint and advocating
for consumers, businesses and legislators to join us in the fight
to drive global change.”
The RealReal achieved carbon neutrality in 2020 through a
combination of efforts to reduce and offset its footprint. The
company is committed to a variety of ongoing initiatives that will
further reduce its footprint, including:
- Developing an Environmental Management System to track
sustainability objectives, goals and targets.
- Shipping the majority of products via ground to reduce GHG
emissions.
- Reducing waste and setting targets of zero-waste certification
at its authentication centers.
- Evaluating large-scale renewable energy power purchase
agreements (PPAs) to power the majority of its operational
footprint.
- Reducing paper consumption in the office and paper usage for
marketing materials.
- Increasing usage of Post-Consumer Recycled Content (PCR) and/or
100% Forest Stewardship Council (FSC) Certified materials.
- Supporting regenerative environmental initiatives, such as One
Tree Planted’s the Million Tree Challenge.
To learn more about The RealReal’s efforts, visit its Social
Impact site at https://investor.therealreal.com/social-impact.
*Based on data from The RealReal’s Sustainability Calculator,
which quantifies the positive impact of consignment – measuring the
greenhouse gases, energy output and water usage saved by the resale
of women’s and men’s items.
About The RealReal Inc.The RealReal is the
world’s largest online marketplace for authenticated, resale luxury
goods, with more than 20 million members. 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 hundreds of 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 thousands
of brands across numerous categories—including women's and men's
fashion, fine jewelry and watches, art and home—in support of the
circular economy. We make selling effortless with free virtual
appointments, in-home pickup, drop-off and direct shipping. We do
all of the work for consignors, including authenticating, using AI
and machine learning to determine optimal pricing, photographing
and listing their items, as well as handling shipping and customer
service. At our 16 retail locations, including our 11 shoppable
stores, customers can sell, meet with our experts and receive free
valuations.
The RealReal Press Contact:Erin
Santypr@therealreal.com
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