The RealReal establishes National Consignment Day, partners with Stella McCartney
Luxury consignment site The RealReal has established National Consignment Day to celebrate closing the loop through consignment. It also formed a strategic partnership celebrating sustainability with Stella McCartney.
National Consignment Day is designed to promote consignment in the apparel industry as a way to reduce waste. More than 80 billion pieces of apparel are manufactured each year and 75 percent of those wind up in landfills.
National Consignment Day will take place annually on the first Monday of October. This year's debut holiday coincides with Stella McCartney's Summer 2018 show in Paris.
The new partnership between The RealReal and Stella McCartney will fully launch in 2018. It will feature national initiatives to increase awareness for extending the lifecycle of luxury products. Customers are encouraged to set up shops with The RealReal, donate to a specific charity and join a social media movement.
The RealReal CEO and Founder Julie Wainwright said, "National Consignment Day allows us to raise awareness about the circular economy, especially as it applies to the luxury market." She pointed to sustainability being at the core of both The RealReal and Stella McCartney's business models.
In a joint statement released by both The RealReal and Stella McCartney, the brands explained that August 2nd of this year marked "Earth overshoot" day. That day signified the point in the year when global manufacturing used more resources from the planet than nature can produce and replenish in a year.
From a business vision standpoint, Stella McCartney has been a pioneer of sustainability as a luxury brand. The designer is a vegan and has never used fur or leather in her line. The label leads best practices in ethical production and sales of its products. It is now increasingly focused on extending wear lifecycle.
McCartney herself said, "By ensuring that our products are used for the entirety of their lifecycle it is possible to begin to slow down the amount of natural resources currently being cultivated and extracted from the planet for the sake of fashion."
The two brands hope the new holiday will encourage consumers to think about sustainability when they shop which will ultimately extend the product lifecycle and reduce waste in luxury fashion.
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