PYMNTS-MonitorEdge-May-2024

‘Circular Fashion’ Goes Vertical With RealReal’s New Collaborative Upcycling Collection

At a time of surging interest in secondhand apparel or recommerce, the country’s leading luxury resale platform The RealReal has unveiled a new line of upcycled clothing made from items donated by eight fashion design partners.

According to the company’s press release, the April 1st launch of 50 one-of-a-kind repurposed items in its “ReCollection 01” line not only coincides with Earth Month but is an extension of the company’s 10-year campaign to support the so-called “circular economy” which aims to extend the life of luxury goods and reduce the fashion industry’s environmental footprint.

“In its simplest form, [our] ReCollection program gives new life to luxury pieces through upcycling,” said The RealReal’s Director of Sustainability James Rogers in an email with PYMNTS, noting that sustainability has been a core value of the company since its founding in 2011.

“Our goal with this program is to have the greatest impact on reducing textile waste in landfills,” Rogers added. “Our hope for launching ReCollection is that this will inspire more people to think about the afterlife of what they own and embrace more conscious consumption. We also hope it sparks conversations with brands around creative ways to collaborate with resale so we can collectively drive awareness and engagement with circular fashion.”

Growing Industry Support

Waste and pollution within the fashion and apparel business has been the source of growing media attention and industry backing. As one of the eight designers donating materials and her big name endorsement to the ReCollection project, Stella McCartney said she puts a lot of time and consideration into her design process concerning where and how items are made and what materials are used.

“We invest a lot to make sure that our products are made to last rather than end up in a landfill,” McCartney said. “As a designer, I think it’s the biggest compliment for your designs to have an afterlife — to me, that is luxury,” she added.

Besides McCartney, other designers backing the inaugural ReCollection product launch include; A-COLD-WALL; Balenciaga; Dries Van Noten; Jacquemus; Simone Rocha; Ulla Johnson; and Zero + Maria Cornejo.  The final items, all with a quilted patchwork theme, were created by Los Angeles-based Atelier & Design and will range in price from $195 to $2,450, the company said, pointing out that a portion of the proceeds will be donated to One Tree Planted to support its global reforestation work.

“To have such a dynamic group of luxury brands join us for our first collection sends an incredibly powerful message about the importance of circularity and the opportunity we all have to support a more sustainable future for fashion,” said Julie Wainwright, founder and CEO of The RealReal. “Our hope is that ReCollection will inspire people to think about the afterlife of what they own and embrace more conscious consumption.”

Growing Commercial Support

Whether you call it upcycling, circular fashion, recommerce, resale, secondhand or thrifting, there is no doubt that this gently used slice of the apparel industry is growing and adding new players and platforms, like last week’s IPO by ThredUP.

While this trend is rooted in sustainability and environmental concerns, it is also attracting lots of new, young, socially conscious customers.

“It’s no secret that sustainability is a value prized by many Millennials and Gen-Z, and we’re seeing these demographics increasingly gravitate toward the companies tackling social and environmental issues head-on,” Rogers said, noting that brands are increasingly recognizing the importance of keeping fashion in circulation and out of landfills.

“Last year, we saw that 35 percent of our new consignors were Millennial and Gen-Z, and sustainability is one of the primary reasons they are consigning with us,” he said.

According to the company, The RealReal is the world’s largest online marketplace for authenticated, resale luxury goods, and has more than 20 million members and 14 retail locations.

 

PYMNTS-MonitorEdge-May-2024