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The Business of Fashion on Instagram

The Business of Fashion on Instagram

An essential daily resource for fashion creatives, executives and entrepreneurs all over the world.

The RealReal is taking a stand regarding accusations that it sells #counterfeit products. In an email sent to customers on Wednesday, Chief Executive Julie Wainwright wrote that the second-hand #luxury marketplace  strives for perfection, but may not be perfect every single time.  Wainwright s note, which was sent with the subject line  Our Pledge to You,  told customers to send items back if they had issues with authenticity.

The email comes on the heels of several reports of counterfeit merchandise being sold on the site. Earlier this week, CNBC published an investigation about the #fashion company, revealing that the platform s listings include a fake Prada dress and a mislabeled Loro Piana scarf. On Forbes.com, a shopper recently recounted how he spent 3,600 on a Dior bag that was later proven to be a fake.

The RealReal has typically denied or downplayed allegations that it sells counterfeits. Wainwright told CNBC in 2016 that  there no fakes on our site.  But when The RealReal filed for an initial public offering earlier this year, it acknowledged that identifying a counterfeit item can be a tricky process, open to human error.  Our success depends on our ability to accurately and cost-effectively determine whether an item offered for consignment is an authentic product,  the company wrote in its SEC filing.  While we have invested heavily in our authentication processes and we reject any goods we believe to be counterfeit, we cannot be certain that we will identify every counterfeit item that is consigned to us.  But the company s authentication process has also come under fire. In an investigation conducted by The Capitol Forum in September found that contrary to The RealReal s claims that its merchandise was being authenticated by experts, employees such as copywriters were also inspecting luxury goods. Continue the read the full story on businessoffashion.com [Link in bio]  : screenshot taken from @therealreal
The RealReal is taking a stand regarding accusations that it sells #counterfeit products. In an email sent to customers on Wednesday, Chief Executive Julie Wainwright wrote that the second-hand #luxury marketplace strives for perfection, but may not be perfect every single time. Wainwright s note, which was sent with the subject line Our Pledge to You, told customers to send items back if they had issues with authenticity. The email comes on the heels of several reports of counterfeit merchandise being sold on the site. Earlier this week, CNBC published an investigation about the #fashion company, revealing that the platform s listings include a fake Prada dress and a mislabeled Loro Piana scarf. On Forbes.com, a shopper recently recounted how he spent 3,600 on a Dior bag that was later proven to be a fake. The RealReal has typically denied or downplayed allegations that it sells counterfeits. Wainwright told CNBC in 2016 that there no fakes on our site. But when The RealReal filed for an initial public offering earlier this year, it acknowledged that identifying a counterfeit item can be a tricky process, open to human error. Our success depends on our ability to accurately and cost-effectively determine whether an item offered for consignment is an authentic product, the company wrote in its SEC filing. While we have invested heavily in our authentication processes and we reject any goods we believe to be counterfeit, we cannot be certain that we will identify every counterfeit item that is consigned to us. But the company s authentication process has also come under fire. In an investigation conducted by The Capitol Forum in September found that contrary to The RealReal s claims that its merchandise was being authenticated by experts, employees such as copywriters were also inspecting luxury goods. Continue the read the full story on businessoffashion.com [Link in bio] : screenshot taken from @therealreal

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