Big deal: luxury resale marketplace The RealReal becomes a partner on EON Exchange ecosystem
The RealReal has joined EON Exchange, EON’s ecosystem of integrated apps, partners and services, in an attempt to boost transparency and trust and enable luxury customers to easily consign their products embedded with Digital IDs powered by EON with its marketplace.
“Our mission at The RealReal is not only to extend the life of luxury items, but also to remove friction from the consignment process and boost the adoption of resale as much as possible,” says Rati Sahi Levesque, President and COO at The RealReal.
“This partnership is far bigger than TRR. Together, we're getting consumers and brands alike to understand the power of resale and keep well-made items in circulation.”
“By joining EON Exchange, we’re increasing the adoption of resale, offering a seamless consignor experience to its community while adding another layer of trust to our marketplace and to the resale industry as a whole.”
EON says that its partnership with The RealReal will foster adoption of luxury resale and help build a more circular fashion economy by streamlining the process of consigning items on the marketplace.
Owners of luxury fashion from EON’s network of brand partners will be able to scan their item to access its history, including provenance and previous sale history, and be given the option to consign with The RealReal.
If the item is accepted, The RealReal will do all the heavy lifting for its consignors – from taking possession, authenticating, photographing, pricing and listing the item – leveraging data from the item’s Digital ID as an additional verification step.
The tie up is pitched as an important step towards the European Union's forthcoming regulation for Digital Product Passports, which will require brands to share product history and data with circular businesses such as resellers.
“We are thrilled to welcome The RealReal to EON Exchange and set a new standard for the luxury resale experience,” says Natasha Franck, Founder and CEO at EON.
“Together, we can make it just as easy to sell, as it is to buy — reshaping the future of commerce and how customers buy, sell and utilise products. By joining the EON Exchange, The RealReal is accelerating the future of resale with a value-benefit to brands, customers and resale marketplaces.”
“Through the EON Exchange, The RealReal is gaining access to new customers, and bringing another layer of transparency to their marketplace. The benefits to the industry as a whole are seismic.”
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