The RealReal is a consignment movement that normally deals with luxury items. It’s a fashion site that anyone in need of second hand Luis Vuitton or Gucci items should visit. This consignment movement was founded by Julie Wainwright who currently operates as its chief executive officer in 2011. The items displayed in the store are the same items that you will find online. The company started as a women’s luxury clothing consignment company and has grown over the years into menswear, watches, home décor, Jewelry and an art company serving the needs of New York fashion industry and other countries all over the world.
The company is presently pitching financiers about raising a hundred million US dollars in fresh funding. The company has raised over one hundred and seventy-three million dollars since it was founded thanks to Julie. There are some assumptions about these fundraising efforts. The company might not have reached a point where it has some public appeal to acquirers and investors, or the company needs some more money and time to prove that it serves as a standalone company in the wrong run. On the other hand, it might be that the RealReal Company has discovered the underlying gold in the second-hand business for luxury items together with its investors and is therefore willing to invest a large share into its growth.
RealReal Company operates on a consignment cycle. The seller normally ships the goods to the company after which the company sells the item to a customer and the proceeds from the sale are shared in the agreed ratio between the company and the seller. There is an authentication team employed by the company set to ensure that all items are original before they are displayed on the website.
The company has been seen competing favorably with other second-hand luxury labels like Thread Up, Poshmark and Tradesy and other companies which have been operating for years. RealReal is pulling out some large sales, and many have started seeing it as a growth area, and this is likely to see the company attracting more investors. RealReal is the place to look while shopping for luxurious dupes.