The RealReal ‘Opens’ an Installation on Canal Street, Starting a Conversation About Fakes
13 June 2024 - 11:00PM
Today, The RealReal, the world’s largest online marketplace for
authenticated, resale luxury goods, unveils an installation of fake
handbags at 301 Canal Street. In a moment where authenticity has
never been so important, we’re drawing attention to the pervasive
counterfeit crisis and provocatively prompting passer-bys to ask
themselves what’s real, with the goal of starting a conversation
about why it matters on a street synonymous with counterfeit
culture.
At first glance, the installation, created in collaboration with
Mythology, may appear to be a new The RealReal store opening, but,
at closer look, will reveal a ‘store’ whose stock consists entirely
of non-shoppable luxury dupes confiscated during our authentication
process; these 35 bags are impossible to decipher as fakes with the
naked eye. They won’t be for sale because this store will never
open or sell anything. In fact, in an office above the store,
reminiscent of the back rooms of Canal Street where the ‘best’
fakes are sold, we’ll hold activations that honor the what’s real,
including an open invitation to turn in counterfeits one day each
month for a chance to win the real thing from The RealReal and
conversations with thought leaders from our community.
Strategically timed to New York’s high season for tourism and
counterfeit-buying, the installation will live on Canal Street
through early September.
- Rati Sahi Levesque, President & COO of The RealReal -
“Authenticity is at the core of everything we do. Over the past 13
years, as counterfeits have evolved - they’re being made more
quickly and accurately than ever - we've continually invested
heavily in advancing our technology and the training of our expert
authenticators, ensuring we’re keeping them off the market.
Unlike fast fashion, the underbelly of counterfeit culture is
less discussed; counterfeits harm the environment, are often
produced unethically and undermine genuine brands. Our commitment
to authenticity goes beyond our business; it’s about protecting the
planet and ethical practices. “
- Kristen Naiman, Chief Creative Officer at The RealReal -
“Identifying what’s real and what’s fake has never been harder, and
it matters now more than ever. We value authenticity, and our
experts are constantly improving their ability to identify the
bogus from the bona fide (something we are all doing every day).
So, we are going to share everything we know, and hear what
designers, thought leaders, craftspeople and our community have to
say. Fakes are a complicated topic. (Like The RealReal, they were
originally a response to the exclusivity of luxury fashion.) So,
let’s talk.”
- Ted Galperin, Partner and Director of Retail at Mythology -
"When TheRealReal approached Mythology, we set out to create an
honest dialogue on consumerism and authenticity. Every passerby
must do a double-take, questioning the validity of our perpetually
closed store, much like they would when judging a handbag’s
authenticity.”
For more information on this initiative, dates
we are accepting counterfeits, the implications of counterfeits,
and how we know what’s real, please visit therealreal.com.
For hi res imagery of the installation,
courtesy of Olympia Shannon, please utilize this link.
‘Hours’ are listed on the window, specifying the
store is ‘Closed’ Monday - Sunday; passersby can scan a QR code on
the window, taking them to this page to learn more about the
installation.
The Counterfeit CrisisSources
listed on therealreal.com
- Some fake items have been traced back to cartels and crime
syndicates funding illegal firearms, narcotics and terrorism.
- Many fakes are made in unsafe working conditions using
unethical practices like forced labor and the labor or minors.
While legitimate companies can be held accountable for their supply
chains, illegal operations like these cannot.
- Fakes undercut the hard work of designers and artisans,
including those without the resources to fight the theft of their
intellectual property. Meanwhile, shoppers duped into buying
unauthentic items don't get what they paid for and are left unable
to recoup their investment.
- Fakes are typically made from low-quality (or even toxic)
materials that won't last, they’re likely to end up in landfills
that harm wildlife and natural resources and contribute to
greenhouse gas emissions.
The RealReal’s Authentication Process
- We have authenticated over 39.2+ million items since our 2011
founding
- We have kept 250,000 fraudulent items off the market since
2011; we’re keeping approximately 5,000 counterfeit items off the
market each month
- We are one of the only resellers that takes possession of every
item we sell, physically evaluating each one; all items are put
through a multi-point, brand-specific authentication process.
- We employ over one hundred experts and brand authenticators,
including gemologists and horologists, who inspect thousands of
items each day; they know the way a brand tag should feel, how the
leather should smell, the difference in the brands’ shades of
colors, the use of monograms and more.
- “High risk” authenticators have significant authentication
experience and are highly specialized in specific categories. Many
of these authenticators join The RealReal from the luxury brands
themselves.
- We utilize proprietary data derived from the millions of items
we’ve authenticated to determine authenticity, demand and pricing;
we have operationalized our business with AI and machine learning
to automate copy writing, pricing and photo retouching to help take
those tasks off our authenticators’ plates so they can focus
primarily on evaluating products.
- Our authentication process along with our internal processes
are changing constantly, driven by new technologies like Vision and
Shield that use machine learning and AI.
- Shield is the first step in our multi-step authentication
process. The machine-learning model considers data from more than
50 attributes to identify high risk products. This data is
leveraged to update algorithms ensuring we route the highest risk
products to our most experienced authenticators, ensuring these
“high risk” products get the most scrutiny.
- Vision is a TRR-proprietary photo-based technology that uses
microscopic images to formulate if an item is real or fake. It
helps us predict the likelihood of inauthenticity by investigating
everything from the grain of a specific leather hide to the
threading that the eye can’t always catch.
- If a customer has concerns about the authenticity of an item,
The RealReal will always take it back to be re-authenticated and
will refund the purchase price if we are unsatisfied with the
results.
- Handbag imitations of Hermes, Chanel, Louis Vuitton and Gucci
are amongst those we receive most often; however, dupes of the most
coveted quiet luxury brands, such as The Row and Celine, are being
produced at record-speeds as well.
More About This InitiativeOn June 22, July 20
and August 17, The RealReal will be accepting counterfeit handbags
at 301 Canal Street. Those who turn in a bag, no questions asked,
will be entered to win the real thing.
Also starting June 13, a curation of Canal Street-inspired
handbags and accessories is available on therealreal.com; authentic
versions of frequently counterfeited handbags – the Louis Vuitton
Speedy, Hermes Birkin, Chanel Flap Bag, Dior and Goyard totes –
along with Gucci belts, Rolex watches, Cartier Love bracelets, logo
sunglasses and more.
About The RealRealThe RealReal is the world’s
largest online marketplace for authenticated, resale luxury goods,
with more than 36 million members. With a rigorous authentication
process overseen by experts, The RealReal provides a safe and
reliable platform for consumers to buy and sell their luxury items.
We have hundreds of in-house gemologists, horologists and brand
authenticators who inspect thousands of items each day. As a
sustainable company, we give new life to pieces by thousands of
brands across numerous categories—including women's and men's
fashion, fine jewelry and watches, art and home—in support of the
circular economy. We make selling effortless with free virtual
appointments, in-home pickup, drop-off and direct shipping. We
handle all of the work for consignors, including authenticating,
using AI and machine learning to determine optimal pricing,
photographing and listing their items, as well as shipping and
customer service.
About MythologyMythology is an independent
creative company based in NYC, founded and led by Anthony Sperduti,
with partners Fernando Music, Ted Galperin and Audrey Attal. Our
multidisciplinary team of writers, designers, art directors,
strategists and architects is built to turn businesses into beloved
brands through our core disciplines of branding, advertising and
retail design. Since our inception, we have partnered with iconic
brands such as A24, Allbirds, Google, Sweetgreen, Target, Universal
Studios, Warby Parker, Live Nation, Mattel, JUST, Peloton, and
Tesla. Visit https://www.mythology.com for more.
Press Contact: Mallory.Johnston@therealreal.com
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