RealReal celebrates its fifth annual National Consignment Day. This day was created to increase awareness about sustainability in fashion and encourage shoppers to take part in the circular economy. Fashion accounts for 10 percent of the total global carbon footprint. The number of garments produced has nearly doubled over the past 15 years, to approximately 80 billion per year. Every second, a garbage truck is full of textiles. However, 95 percent of the clothes that are thrown away could be worn again, recycled or reused.
“It’s time for fashion to be real about its future. The industry’s share of the world’s carbon footprint could rise to 26 percent if it continues on its current path, and it will be more than 50 points short of the 1.5-degree pathway set out by Paris Climate Accord,” Julie Wainwright (founder and CEO of The RealReal), said in a statement. “The industry could reach that goal by recirculating only one fifth of its items. Everyone can make a difference by consigning. It’s easier than ever for everyone to get involved in the circular fashion movement, and it’s even more crucial for the health of our planet.”
Four new circular initiatives have been launched by The RealReal. These include expanding luxury consignment into additional categories such as sports and outdoor gear, collectibles and electronics, increasing selling flexibility through Buy Up Front, giving consignors more options for how they want their items to be sold, including consignment, trade or getting paid immediately for items they recycle, creating Circular ReSource Lab to solve the fashion waste crisis and finally, teaming with MyTheresa in order to promote recirculation here in the U.S.
Mytheresa will give both the customer and The RealReal’s a shopping credit to help them re-use their bags and support the circular economy.
“We are thrilled to be a part of The RealReal’s consignment network. Heather Kaminetsky (North American president of Mytheresa), stated that “We strongly believe in circularity and offer something unique to our customers in the U.S.”