The RealReal, the leading luxury resale marketplace, has announced its partnership with Eon Exchange, Eon’s ecosystem of integrated apps, partners and services, to offer consignors a seamless experience whilst boosting the circular economy. On The RealReal’s marketplace, customers will be able to easily consign their luxury products embedded with Digital IDs powered by Eon.
Eon Exchange is an ever-growing ecosystem that integrates technologies from every part of the fashion industry. Examples include sustainability measurement organizations such as Carbon Trail, sustainability certifiers such as Cradle to Cradle Certified, logistics such as Bleckmann, care and repair solutions such as Save Your Wardrobe and data carriers, label and chipmakers such as Checkpoint Systems.
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Through this team-up, The RealReal and Eon aim to help foster the adoption of the luxury resale of products and build a more streamlined process of consigning items on the marketplace. Luxury fashion owners from Eon’s network of brand partners, such as Coach, Chloé, Mulberry and more, will be able to scan their items to access the product history, such as provenance and sale history, and be given the option to cosign on The RealReal.
Once the product is accepted, The RealReal will move forward to take possession, authenticate, photograph, price and list the item — all utilizing the valuable data from the item’s Digital ID as another step in the verification process.
Moreover, this collaborative relationship between Eon and TheRealReal comes as an important step in the adherence to the European Union’s regulations for Digital Product Passports. As previously reported by WWD, this legislation would require brands to share their product history and data with circular businesses such as resellers and consignment brokers.
“This partnership is far bigger than The RealReal,” said Rati Sahi Levesque, president and chief operating officer at The RealReal. “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.”
Levesque said that not only is the company’s mission to extend the life of luxury items, but it also is working to remove friction during the consignment process to help boost the adoption of resale. This partnership will enable the resale marketplace to move forward in this pursuit.
“We are thrilled to welcome The RealReal to Eon Exchange and set a new standard for the luxury resale experience,” said Natasha Franck, founder and chief executive officer 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 utilize 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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