TheRealReal partners with MyTheresa to promote circularity

YarnsandFibers News Bureau 2021-10-06 08:52:36 – USA

The RealReal is celebrating its 5th annual National Consignment Day. The goal of the day is to promote awareness about fashion sustainability and encourage buyers to engage in the circular economy. 

Julie Wainwright, founder and CEO of The RealReal, said that it's time to face reality when it comes to fashion's future. If the industry continues on its current course, its share of the world's carbon footprint could rise to 26% by 2050, and it would miss the Paris Climate Accord's 1.5-degree pathway by more than 50%. If the industry recirculates only one out of every five things, it will be on track to meet that objective. Consigning is a simple way for everyone to make a difference. They're making it easier than ever to get involved in the circular fashion movement, and it couldn't come at a better time for the planet's health.

The RealReal has launched four new circular initiatives, including expanding luxury consignment to new categories such as sports and outdoor gear, collectibles, and electronics, increasing selling flexibility with Buy Up Front, which gives consignors more options for how they want to sell their items, whether it's consignment, trade, or getting paid instantly for items they recirculate, launching Circular ReSource Lab to develop solutions to the fashion waste crisis, and partnering with MyTheresa to drive recirculation in the U.S.

For recirculating their bags and supporting the circular economy, Mytheresa will reward both its customers and The RealReal's with shopping credit.

Heather Kaminetsky, Mytheresa president of North America, said that they’re thrilled at the prospect of joining The RealReal's consignment community. They strongly believe it is crucial for them to strengthen circularity as part of the fashion ecosystem and to offer something distinctive to their client base in the United States.

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