Burberry x The RealReal to extend the life of luxury products through resale

 

 

Burberry x The RealReal to promote a more sustainable future for fashion. How it is translated in the real-life?

Burberry And The RealReal Join Forces To Make Fashion Circular.

On National Consignment Day, global luxury brand Burberry and authenticated luxury consignment marketplace The RealReal announced they are teaming up to promote a more sustainable future for fashion.

Keep luxury clothing in use for longer

The Ellen MacArthur Foundation estimates that more than $500 billion of value is lost every year due to clothing not being utilized or recycled effectively, with some garments in the U.S. discarded after just seven to 10 wears. Through a new partnership, Burberry and The RealReal are aiming to support and promote the benefits of a circular economy for fashion by encouraging customers to extend the life of their products through resale.

Through the pilot launching today, customers who consign Burberry pieces at The RealReal are being offered an exclusive personal shopping experience in select Burberry stores across the U.S.

According to The RealReal, resale demand for Burberry has increased by 64% year-on-year, with searches for Burberry on the site rising fastest among Millennial and Gen Z customers.

“Leading the way in creating a more circular economy for fashion is a key element of our Responsibility agenda,” said Pam Batty, VP Corporate Responsibility, Burberry. “The RealReal shares our ambition to promote the circular economy and keep clothing in use for longer. We know that the enduring quality of Burberry pieces means their appeal and value is long-lasting. Through this new partnership we hope to not only champion a more circular future but encourage consumers to consider all the options available to them when they’re looking to refresh their wardrobes.”
“A brand as storied as Burberry embracing the circular economy demonstrates the power of resale’s impact on both the luxury market and the planet,” said Julie Wainwright, CEO of The RealReal. “I hope together we’ll be a part of pioneering a future in which circularity is a consideration for every luxury brand.”

Burberry and The RealReal have made a donation to Materials for the Arts to support its work in helping people rethink the way they look at materials and waste, as well as educating the public on the importance of creative reus

Shoppers Abandon Fast Fashion for Luxury Resale

At the end of August, The RealReal released its annual Resale Report. Based on sales and demand data from millions of shoppers and millions of items sold, the report offers a definitive look at the shopping shifts and rising trends in luxury resale.

Nearly all of The RealReal’s customers also regularly shop department stores, but as they grow increasingly motivated by sustainability, shoppers are turning to luxury resale as a replacement for fast fashion. More than 80 percent of The RealReal’s customers cite sustainability as an important reason for shopping the site, and 32 percent of customers have left fast fashion behind in favor of shopping luxury resale.

Gucci and Louis Vuitton remain the most in-demand brands within luxury resale, and have expanded their lead more than 225% over No. 3 brand Chanel. Gucci’s dominance shows no signs of slowing — demand for the brand is up 78% and it’s No. 1 with both women and men.

“Gucci and Louis Vuitton have been at the forefront of embracing culture changes and adapting to the shifting demographic of luxury buyers,” said Rati Levesque, COO and head of merchandising for The RealReal. “We’re seeing that pay off with increasingly strong demand for both brands in luxury resale that has distanced them significantly from the other top brands.”

Gucci also leads the charge at blurring the lines between luxury and streetwear. Shoppers purchasing both streetwear and luxury brands is up 56%, and streetwear buyers are most likely to buy Gucci out of all luxury brands. Overall, streetwear is surging, up 281%, driven largely by millennials, Gen X and women.