SAN FRANCISCO, Oct. 05, 2020 (GLOBE NEWSWIRE) -- 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.
Founded 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.
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A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/5b535c10-26eb-4c55-8447-09754cc88c52.
Source: The RealReal