THEREALREAL INC
REAL
Consumer Discretionary
1
exclusion reason
1 theme
This page is part of our public exclusion list — a transparency tool that shows which companies we screen out and why. It is not investment advice, and it is not an accusation. But it is subject to change as our understanding of the facts evolves.
The RealReal operates a luxury consignment marketplace that facilitates the sale of pre-owned goods, including items made from animal-derived materials such as leather, fur, exotic skins, wool, and cashmere. The company’s business model is predicated on the continued commercial trade and valuation of these products, which are sourced from industries involving animal exploitation.
While the company’s 10-K filings detail various legal disputes concerning authentication and antitrust matters, they do not disclose a policy prohibiting the sale of animal-derived materials or outline sourcing standards for animal welfare. The available evidence does not indicate the company has implemented measures to avoid complicity in industries where animal welfare violations, such as those alleged in cashmere and wool supply chains, are documented.
Research Sources
1 organization
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A digest of changes to our exclusion list — new additions, removals, and the evidence behind them. We review the list continuously as new evidence surfaces.
Companies appear on our exclusion list based on our investment judgment — not because they've done anything illegal. This is a difference of values and opinion, not an accusation of wrongdoing. Exclusion does not constitute a recommendation against investing in any company, and absence from the list does not constitute a recommendation to invest.
This information is provided for educational and transparency purposes only and should not be relied upon as investment advice. Data is drawn from independent watchdogs, NGOs, government registries, and Ethical Capital's ongoing research — see Research Sources for the full list.
Ethical Capital LLC is a state-registered investment adviser in Utah (CRD #316032). Registration does not imply a certain level of skill or training.