REAL - The RealReal, Inc.

NasdaqGS - NasdaqGS Real Time Price. Currency in USD
16.15
-0.78 (-4.61%)
At close: 4:00PM EST

16.15 0.00 (0.00%)
After hours: 5:51PM EST

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Previous Close16.93
Open17.07
Bid16.20 x 1300
Ask16.18 x 1000
Day's Range15.90 - 17.17
52 Week Range12.58 - 30.05
Volume1,818,614
Avg. Volume1,617,304
Market Cap1.386B
Beta (3Y Monthly)N/A
PE Ratio (TTM)N/A
EPS (TTM)-3.71
Earnings DateNov 4, 2019
Forward Dividend & YieldN/A (N/A)
Ex-Dividend DateN/A
1y Target Est29.57
  • Bernstein bullish on BYND's sales growth potential
    Yahoo Finance Video

    Bernstein bullish on BYND's sales growth potential

    Bernstein upgraded shares of Beyond Meat to outperform while keeping their target price at $106. Despite expecting more volatility in the short-term, they believe the risk/reward leans towards the upside at current levels. Yahoo Finance's Jen Rogers, Myles Udland and Brian Cheung discuss on The Final Round.

  • Burberry launches new partnership with The RealReal
    Yahoo Finance Video

    Burberry launches new partnership with The RealReal

    Luxury consignment shop The RealReal is partnering with famed fashion house, Burberry – its most high-profile collaboration to date – for a new promotion that could change the resale market by enticing shoppers back to Burberry stores. Yahoo Finance's Jennifer Rogers and Editor-at-Large Brian Sozzi discuss the partnership, and how Burberry's involvement lends credibility to The RealReal's business.

  • GlobeNewswire

    The RealReal to be Carbon Neutral in 2021

    Today The RealReal announced its pledge to be fully carbon neutral in 2021, in response to the CEO Carbon Neutral Challenge issued by Gucci president and CEO Marco Bizzarri yesterday. The CEO Carbon Neutral Challenge calls for companies to respond to the current climate crisis by accelerating their commitments to address their total greenhouse gas (GHG) emissions. “Marco Bizzarri’s challenge to execute more radical and immediate change inspired us to respond with greater urgency and turn up the dial on the commitment we made with UN Climate Change's Fashion Industry Charter for Climate Action (UNFCCC),” said Julie Wainwright, CEO of The RealReal.

  • Barrons.com

    RealReal Says Its Goods Are Indeed Real. The Question Is if Investors Will Buy It.

    The luxury-goods consignment marketplace’s shares tumbled after a report that items for sale on the site had not been authenticated by experts.

  • Benzinga

    TheRealReal CEO: 'No Other Resale Company Doing More To Remove Fakes'

    Following a CNBC investigation that found instances of RealReal Inc (NASDAQ: REAL) selling counterfeit merchandise, CEO Julie Wainwright said Tuesday that the company has the most rigorous authentication process in the marketplace.

  • MarketWatch

    RealReal says it 'authenticates every single item' in response to report about fakes sold on its site

    RealReal Inc.'s Chief Executive Julie Wainwright issued a response to a report of sales of counterfeit goods on its site, saying that its authentication process is the most thorough in the market. "We are the only resale company in the world that authenticates every single item we sell," the letter said. In a lengthy explanation, Wainwright described the process of verifying that the luxury goods on its site actually come from the labels they claim. In addition to using technologies like machine learning, the company hires authenticators who often have experience with the brands the company sells, Wainwright said. Moreover, she guarantees that if there is a question, the company will "always make it right." The letter comes days after a CNBC report that analyzed negative customer reviews, including claims that customers purchased fake high-end items. Last week, RealReal reported third-quarter sales that rose 55% and beat expectations. "We believe RealReal's strong AOV [average order value] increase shows the untapped demand for authenticated luxury items, particularly in higher-priced items like watches, jewelry, and handbags, all of which RealReal called out as strengths in the quarter," wrote KeyBanc Capital Markets in a note. KeyBanc rates RealReal stock overweight with a $31 price target. RealReal stock is down 21% for the month to date, but up 7.4% over the last three months. The S&P 500 index is up 5.5% for the past three months.

  • [video]Can RealReal Stock Defy the Shorts?
    TheStreet.com

    [video]Can RealReal Stock Defy the Shorts?

    In his second "Executive Decision" segment of Mad Money Tuesday night, Jim Cramer spoke with Julie Wainwright, CEO of RealReal Inc. , the online retailer that's come under fire from reports alleging fake goods are slipping through the company's authentication procedures. Wainwright said her company has sold over 11.5 million items, 80% of which are to repeat customers. The company uses a combination of data, technology and humans to combat fraud, Wainwright continued.

  • GlobeNewswire

    The RealReal Sets the Record Straight on Its Authentication Process

    The RealReal (Nasdaq: REAL)—the world’s largest online marketplace for authenticated, consigned luxury goods—today issued the below letter from its Founder and CEO, Julie Wainwright, to its community of buyers and consignors. When I started The RealReal from my kitchen table, I knew earning customers’ trust would be foundational to building this business.

  • New or Used, It’s Still Luxury
    Bloomberg

    New or Used, It’s Still Luxury

    (Bloomberg Opinion) -- It’s now easier than ever to get your hands on a used Louis Vuitton tote or Gucci belt bag for cheap. But the rise of the online resale market in luxury goods needn’t have executives of high-end fashion houses shaking in their Christian Louboutin boots.In fact, it’s a model that could actually help an industry that thrives on scarcity and exclusivity, especially if designers use this emerging channel to their advantage.One reason is that the growth of the luxury resale market, popularized by such sites as the RealReal Inc., Poshmark and Vestiaire Collective, is poised to outstrip that of the broader market. The Boston Consulting Group and Altagamma estimate that it will expand by an average of 12% per year through 2021, compared to about 3% for the primary luxury market.While prices on the resale market tend to be lower than retail, they’re not so much lower that they appeal to a totally different customer. Jamie Merriman, an analyst at Bernstein, found that the median price of a Louis Vuitton bag on The RealReal was $1,025. That’s a deal compared to the median $3,000 price her analysis found for new Louis Vuitton purses. But that still leaves the brand in a vastly different tier than, say, Coach or Michael Kors, whose new bags might cost $300 to $400.  (It’s near enough that it may tempt some shoppers to trade up — but that’s only a worry for accessible luxury brands.)In some cases, the prices fetched on the secondhand market might only add to a label’s mystique and cachet. Rare Hermés Birkin bags can sell on sites such as RealReal for higher prices than new ones do.Perhaps more important, though, is the way that secondhand sites can change the calculus of buying a new luxury piece in the first place. Say you’re considering a classic Balenciaga City bag for about $2,000. Is it worth the investment? A scroll around RealReal shows that you might be able to resell it for about $600. That could be exactly the kind of assurance a first-time millennial or Generation Z luxury buyer needs to take the plunge on a pricey accessory. None of this is to say that the luxury powerhouses shouldn’t get into the burgeoning resale market themselves. Some already are. At A.P.C., a French fashion house, customers can apply to trade in their worn jeans. If accepted, they can buy a new pair at half price. (The old jeans are then resold, but not before they have been washed, repaired and marked with the initials of the former owners.)Another option would be to acquire secondhand platforms, as Cie Financiere Richemont SA did with Watchfinder last year. But this could create challenges, particularly when it comes to authenticating other brands’ products. That’s why cooperation between luxury brands and resale sites looks like the more likely and logical approach.Burberry Group Plc, has begun a partnership with the RealReal in which U.S. customers who consign its goods can get a personal shopping session and tea at one of its boutiques. In Europe, Vestiaire Collective has a tie-up with French contemporary brands including Sandro and Maje, owned by SMCP SA, under which customers selling these retailers’ products are rewarded with a 10 euro voucher to spend on their new collections.Such relationships allow the brands themselves to engage with shoppers who are participating in the secondhand market. They also allow these companies to market themselves as champions of sustainability and recycling.Luxury adviser Mario Ortelli of Ortelli & Co. says cooperation between fashion houses and secondhand sites could run even deeper as the market develops. Brands could play a bigger role in authenticating their products for resellers, for example. Another idea: Fashion labels could use data from resale sites to inform their merchandising decisions.So there is good reason for the luxury giants to play nice with the resale sites right now — but they should be clear-eyed about the possibility that industry dynamics may eventually change. If these startups end up struggling to keep counterfeit products off their marketplaces, for instance, that would be a reason for the luxury brands to distance themselves.  For now, however, the big bling empires shouldn’t fear their handbags and dresses getting a second life.To contact the authors of this story: Sarah Halzack at shalzack@bloomberg.netAndrea Felsted at afelsted@bloomberg.netTo contact the editor responsible for this story: Michael Newman at mnewman43@bloomberg.netThis column does not necessarily reflect the opinion of the editorial board or Bloomberg LP and its owners.Sarah Halzack is a Bloomberg Opinion columnist covering the consumer and retail industries. She was previously a national retail reporter for the Washington Post.Andrea Felsted is a Bloomberg Opinion columnist covering the consumer and retail industries. She previously worked at the Financial Times.For more articles like this, please visit us at bloomberg.com/opinion©2019 Bloomberg L.P.

  • As Wall Street breaks records, this year's unicorn IPOs hit rough patch
    American City Business Journals

    As Wall Street breaks records, this year's unicorn IPOs hit rough patch

    Even the best-performing new stock companies from the region have been hit by a reset that appears to be happening on Wall Street.

  • Benzinga

    RealReal CEO: Our Products Are Really Real, But In Reality We Aren't Perfect

    A CNBC investigation found instances of RealReal selling counterfeit merchandise on its platform. RealReal's woes are a "classic case of growth at all cost," CNBC's Melissa Lee said Thursday. RealReal's authentication personnel have quotas to satisfy, and the company reached a point where the volume of incoming products was too much to handle, she said.

  • RealReal stock slumps after report on negative customer reviews
    MarketWatch

    RealReal stock slumps after report on negative customer reviews

    The RealReal reported better-than-expected earnings, but shares fell after a report about negative customer reviews.

  • GlobeNewswire

    The RealReal To Participate in Credit Suisse, J.P Morgan, UBS and Raymond James Conferences

    SAN FRANCISCO, Nov. 06, 2019 -- The RealReal (Nasdaq: REAL)--the world’s largest online marketplace for authenticated, consigned luxury goods--today announced that CEO Julie.

  • Barrons.com

    RealReal Stock Falls as Authentication Concerns Outweigh Great Earnings

    Seventy-five percent of analysts covering the stock have a Buy or equivalent rating, while 25% recommend a Hold. Short interest remains high, at about 90% of its limited IPO float.

  • Counterfeit concerns trample RealReal's stock a day after first S.F. store announced
    American City Business Journals

    Counterfeit concerns trample RealReal's stock a day after first S.F. store announced

    The CEO of the San Francisco resale company acknowledged for the first time that copywriters are authenticating products.

  • MarketWatch

    RealReal stock falls despite earnings beat after report of negative customer reviews

    RealReal Inc. shares slipped 3.6% in Tuesday trading after a CNBC report that analyzed negative customer feedback. Top complaints, according to the report, are damaged items, poor customer service and fakes. The story comes following the secondhand luxury retailer's third-quarter earnings in which the company reported a 55% year-over-year sales increase. On the call, RealReal Chief Executive Julie Wainwright talked about the company's multi-point authentication process. "We're the only marketplace that authenticates a wide range of consumer products, and I would say without hesitancy... our practices are best-in-class and most importantly they continue to evolve," she said, according to a FactSet transcript. "They have to evolve because counterfeiters evolve." Analysts are bullish on the stock, with Cowen saying it is a leader in gathering, authenticating and "single-SKU management." Cowen rates RealReal stock outperform with a $32 price target. RealReal shares have fallen 12.2% over the past three months while the S&P 500 index is up 22.7% for the period.

  • IPO-Edge.com

    IPO Edge’s Jannarone on Cheddar TV: The RealReal Posted an Elegant Quarter

    Second-hand luxury marketplace The RealReal, Inc. showed progress in important metrics that point to profitability on the horizon in its third quarter results, IPO Edge Editor-in-Chief John Jannarone told Cheddar TV in an interview Monday evening. Importantly, the company showed an increase in sales per order, which suggests customers are buying both more items and […]

  • RealReal stock gains after company’s Q3 sales jump 55%
    MarketWatch

    RealReal stock gains after company’s Q3 sales jump 55%

    RealReal shares rise in the extended session Monday after the retailer said its quarterly sales jumped 55%.

  • GlobeNewswire

    The RealReal Announces Third Quarter 2019 Results

    Q3 Total Revenue Increased 55% Year over Year to $80.5 million Q3 Gross Merchandise Value Increased 48% Year over Year to $252.8 million SAN FRANCISCO, Nov. 04, 2019 -- The.

  • GlobeNewswire

    The RealReal Announces Timing of its Third Quarter 2019 Earnings Results Conference Call

    The RealReal will host a conference call at 2:00 p.m. Pacific Time (5:00 p.m. Eastern Time) to review its results with the investment community. The RealReal is the world’s largest online marketplace for authenticated, consigned luxury goods.

  • Hedge Funds Have Never Been This Bullish On The RealReal, Inc. (REAL)
    Insider Monkey

    Hedge Funds Have Never Been This Bullish On The RealReal, Inc. (REAL)

    How do you pick the next stock to invest in? One way would be to spend days of research browsing through thousands of publicly traded companies. However, an easier way is to look at the stocks that smart money investors are collectively bullish on. Hedge funds and other institutional investors usually invest large amounts of […]

  • Why the Gig Economy Doesn’t Work
    InvestorPlace

    Why the Gig Economy Doesn’t Work

    2019 has been a big year for tech IPOs, but it's been a huge year for gig economy IPOs. Uber (NYSE:UBER), Lyft (NASDAQ:LYFT), RealReal (NASDAQ:REAL) and Fiverr (NYSE:FVRR) have already gone public and are companies capitalizing on -- or helping to shape the gig economy. Still upcoming, we have Airbnb and Postmates. And even the embroiled WeWork is in some way reliant on the rise of a more transient, less traditional workforce.Source: Shutterstock So what does this all mean? It's hard to say because very few people can agree on what the "gig economy" or "gig work" means.Does it mean anyone who works for an app? Does that include people who are freelancers finding work through platforms like Fiverr and Upwork (NASDAQ:UPWK)? What about contractors who work for a single company but are not officially employees?InvestorPlace - Stock Market News, Stock Advice & Trading Tips Who Is a Gig Worker?The Federal Reserve broadly says that "gig work covers personal service activities, such as child care, house cleaning, or ride-sharing, as well as goods-related activities, such as selling goods online or renting out property." This definition of gig work includes both online and offline activities, underscoring the fact that most of these activities predate the internet.By this very wide definition, the Fed found that 3 in 10 adults engaged in at least one gig activity in the month before the 2018 survey. However, this number goes as high as 37% for people ages 18-29 and as low as 21% for people over 60. 18% of gig workers said that it was their primary income. * 10 Super Boring Stocks to Buy With Super Safe Returns The Fed also found that gig workers are more likely to be financially fragile. Of people who use gig work as their primary source of income, 58% are considered financially fragile. That is, they would have difficulty handling an unexpected $400 expense or are using alternative financial services. 44% of those using gig work to supplement their income were financially fragile.The Bureau of Labor Statistics, which puts out the jobs report that many use to measure the health of the U.S. economy has no formal definition of a gig worker or way of tracking them. This is because the BLS tracks primary work only. So people who work a number of different gigs or who need gig work to supplement their income are excluded. The closest it has is the Contingent Worker Supplement. Contingent workers are workers who do not expect their jobs to last longer than a year. The survey, last put out in May 2017, also identified workers with "alternative work arrangements."It found that:"In May 2017, there were 10.6 million independent contractors (6.9 percent of total employment), 2.6 million on-call workers (1.7 percent of total employment), 1.4 million temporary help agency workers (0.9 percent of total employment), and 933,000 workers provided by contract firms (0.6 percent of total employment)."It's unclear how these numbers have changed over time. Prior to 2017, the Contingent Worker Supplement had not been released since 2005. Good thing there was nothing that fundamentally disrupted U.S. employment between 2005 and 2017, right? But How Many Gig Workers Are There, Really?But in 2017, for the first time, the BLS asked 4 questions about "electronically-mediated employment," or "short jobs or tasks that workers find through mobile apps that both connect them with customers and arrange payment for the tasks."The survey found that there 1.6 million electronically mediated workers in the U.S., accounting for 1% of total employment. The BLS attempted to distinguish whether these jobs were a person's main job, second job or additional work for pay. Unfortunately, the BLS believes there were errors in interpretation of this question. As such, it does not recommend using this data.A study conducted by the Freelancers Union and Upwork concluded that 57 million Americans freelance, but only 6%-7% of those surveyed described themselves as "gig workers."So what is the gig economy?Well, no one has decided yet. And while some companies may spin that as new and exciting, it makes it hard to track these workers. It is even harder to see if they're being exploited. It's also much harder to know if gig work is a stable source of labor that will work going forward.In 2017, McKinsey estimated that 68 million workers were currently in the gig economy, and that 20 million were only doing it because they couldn't find better pay or a better job elsewhere.But it's fine, right? Unemployment has gone down since 2017 and wages have gone up. But remember, that's according to the BLS, the department that doesn't know how to define gig workers or determine how many people were doing electronically mediated work as a primary job.The truth is we don't know how large this group of workers is, or if they will be a reliable work force -- or customer -- for all of these gig-economy dependent companies going forward. The Face of the Gig EconomyFor an example of the sustainability of the gig economy, let's look at the face of it: Uber drivers. Since its IPO, Uber has hit a number of speed bumps. Two of these bumps are relevant to this discussion:* California Assembly Bill 5* ProfitabilityFirst is California Assembly Bill 5. This bill makes it harder for companies like Uber (and Lyft and others) to continue to classify their drivers as contractors instead of employees. This means drivers would need to earn minimum wage and receive benefits. Employers also have to pay taxes on employees that they don't need to pay for contractors.Both Uber and Lyft plan to fight this law, with Uber claiming that "drivers aren't core to its business." This argument obviously makes no sense. Being able to open Uber and request a ride doesn't exactly work if no one is ever going to come pick you up. That doesn't mean Uber can't win this legal battle, but it's unlikely that this is the last attempt to regulate the gig economy. Can Uber Turn a Profit?All this leads into the next question. How will Uber ever turn a profit?Last quarter, Uber took in gross bookings of $15.8 billion, but most of that money went directly to drivers, and Uber's revenues were only $3.2 billion. That's about 20%.Overall, the company lost $5.2 billion dollars in the second quarter. The company needs to be keeping more of its gross bookings, but the California bill, and the ones sure to follow, will mandate it keeps less. Uber is not profitable with it's workers classified as contractors, so how would it be profitable otherwise?Uber is trying to branch out with the recent release of Uber Works, an app dedicated to matching temporary workers with shifts. It has partnered with staffing agencies to do this, and the temps would be employees of the staffing agency -- not Uber. This is a transparent attempt to sidestep the issues brought up in AB 5.This move also attempts to frame Uber as the technology "that connects people to work opportunities, rather than carrying the burden of being an employer."Will this work? That's unclear. But it's unlikely to work well enough to make up for a $5-billion-a-quarter loss while the company also sidesteps further legislation.But the other huge risk for the gig economy is not profitability, it's that workers are unlikely to stay in it for longer than they can help it. The Cost of Being a Gig WorkerNow that we've talked about how the gig economy might not continue to work for companies, let's look at how it's already failing employees.Back in 2014, Uber stated in a blog post that the median annual income for an UberX driver in New York City is $90,766. In response, Slate writer Alison Griswold attempted to find one person making that much money as an Uber driver. She couldn't. (Note: I have not been able to locate the original blog post, but other contemporaneous reporting verifies Uber made the same claim).If $90,000 is the median, that means Uber claimed 50% of its drivers in New York City made more than $90,000 a year.A salary of $90,766 works out to about $43.63 an hour if a driver is working 40 hours a week. In an also deleted tweet, Uber claimed around the same time New York City drivers made about $25 an hour after taxes and fees.A driver would have to commit to a 70-hour week to hit the yearly median that Uber originally published. Minimum WageOne driver interviewed for the Slate article made about $12 an hour after paying for gas, car cleanings, insurance, parking and maintenance costs. For someone employed by a company as a driver, all of these expenses would be covered.The minimum wage for employers with more than 11 employees in New York City is currently $15 an hour.A survey conducted by Ridester showed that in 2018, New York City Uber drivers were making about $20.92 an hour before expenses. But the person interviewed for the Slate article was making $21 an hour before fees brought it down to $12. That was five years ago. Costs have only increased since then. In the Ridester's worst-rated city -- Akron, Ohio -- drivers are only averaging $4.94 an hour before expenses.Yes, expenses are lower in Akron than New York, but $4.94 is well below federal minimum wag. Can these drivers break even?Low pay isn't just a problem for those who receive it. Many currently believe the world economy is currently being held up by the American consumer, but what happens if the American consumer has less and less to spend?How can Lyft and Uber rely on having a consistent workforce when the pay is so abysmal? Many workers will leave as soon as they find something better. And if drivers aren't breaking even, they're not going to even bother waiting for something better. They're just going to jump ship. The Human Cost of the Gig EconomyBut low pay isn't the only cost of being a gig worker.Gig workers are far less likely to have health insurance. While about 85% of Americans have some form of health insurance, only 67% of temporary workers and 75% of independent contractors do. And when people are uninsured, it hurts the economy and raises prices for people with insurance.Most people access retirement plans through their employers. This means gig economy workers have bleak prospects when it comes to saving for the future. And when people can't take care of themselves in retirement, that weighs on the overall economy as well.But for some gig economy workers, especially drivers, health insurance and retirement plans are the furthest thing from their mind. They're focused on keeping a roof on their head or, in some cases, just surviving.Bhairavi Desai, the executive director of the New York Taxi Workers Alliance, (which also represents Uber and Lyft drivers) told Fast Company: "We're talking about massive bankruptcies, foreclosures, evictions. We've had Uber and Lyft members … end up in homeless shelters for six months at a time, to drivers talking about food scarcity, to people living in their cars and sleeping at the airports overnight. We saw such high levels of depression and despair, and eventually we started to see the suicides."Since 2018, nine ride-hailing and cab drivers have taken their own lives in New York alone. All communications from the Taxi Workers' unions to its members now include the suicide hotline. The Bottom Line on the Gig EconomyAccording to Edison Research, 45% of gig workers say they feel stuck in their current financial situation. They report higher levels of financial instability than their traditionally employed counterparts.African-American and Hispanic workers are more likely to be relying on the gig economy for their primary income.The gig economy isn't profitable for companies. But moreover, the harm that it does to its workers is incalculable -- literally, since the government can't seem to count these workers.And it's giving us an incomplete picture of the economy.158 million people were employed as of the September jobs report. Almost 6 million were unemployed (and looking for work) making for a very low rate of 3.5%. Just over 1 million workers were part-time because could only find part-time work but wanted full-time work. On their own, those are great numbers.But what about the 20 million people mentioned earlier? The ones who were in the gig economy only because they had to be? That group is almost four times as large as the total unemployed. It is 20 times larger than the jobs report underemployed number. And the BLS is not consistently tracking them. So they won't be in the jobs report, and we won't know how well the economy is really doing.But the real losers are the workers, who are being exploited by promises of being their own boss and setting their own hours.As of this writing, Regina Borsellino held no positions in the aforementioned securities. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 10 Super Boring Stocks to Buy With Super Safe Returns * 10 Winning Stocks to Buy and Stick With for the Long Haul * Don't Give Up on These 4 Cannabis Stocks The post Why the Gig Economy Doesn't Work appeared first on InvestorPlace.

  • GlobeNewswire

    Glancy Prongay & Murray LLP Continues Its Investigation on Behalf of The RealReal, Inc. Investors

    LOS ANGELES, Oct. 09, 2019 -- Glancy Prongay & Murray LLP (“GPM”) continues its investigation on behalf of The RealReal, Inc. (“RealReal” or the “Company”) (NASDAQ: REAL).

  • GlobeNewswire

    INVESTOR ALERT: Law Offices of Howard G. Smith Continues Its Investigation on Behalf of The RealReal, Inc. Investors

    BENSALEM, Pa., Oct. 07, 2019 -- Law Offices of Howard G. Smith continues its investigation on behalf of The RealReal, Inc. (“RealReal” or the “Company”) (NASDAQ: REAL).

  • Burberry And The RealReal Join Forces To Make Fashion Circular
    PR Newswire

    Burberry And The RealReal Join Forces To Make Fashion Circular

    LONDON and SAN FRANCISCO, Oct. 7, 2019 /PRNewswire/ -- Today, on National Consignment Day, global luxury brand Burberry and authenticated luxury consignment marketplace The RealReal (Nasdaq: REAL) announced they are teaming up to promote a more sustainable future for fashion. 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.