The RealReal

The RealReal, Inc. is an online and brick-and-mortar marketplace for authenticated luxury consignment.[1] Based on the circular economy, The RealReal sells consigned clothing, fine jewelry, watches, fine art and home decor. It employs an in-house staff of experts including horologists, gemologists, art curators and luxury fashion authenticators who inspect items for authenticity and value.[2][3]

The RealReal, Inc.
Public
Traded asNASDAQ: REAL
IndustryRecommerce
Founded2011
FounderJulie Wainwright
HeadquartersSan Francisco, California
ServicesAuthenticated Luxury Consignment
Websitetherealreal.com

History

The RealReal was founded in 2011 by Julie Wainwright, an e-commerce entrepreneur. By July 2018, the company had raised $288 million in venture capital funding.[4]

In 2017, The RealReal opened its first permanent retail store in New York City. It also opened pop-ups in San Francisco and Las Vegas. In 2018, it opened its second retail location in Los Angeles.[5][6] In 2019, The RealReal opened a third retail location, its second in New York, on Madison Avenue on the Upper East Side.[7] In 2020, The RealReal opened its fourth retail location in San Francisco’s Union Square.[8]

In early 2019, the company announced it would be adding a half-million square foot e-commerce space in Perth Amboy, New Jersey, to its existing e-commerce centers in Secaucus, New Jersey, and Brisbane, California.[9]

On May 31, 2019, The RealReal submitted a preliminary filing (S-1) to the SEC to go public.[10]

On June 28, 2019, The RealReal went public on Nasdaq under the symbol REAL.[11]

Sustainability

In 2017, The RealReal announced a sustainability partnership with luxury fashion brand Stella McCartney. The partnership launched in 2018 and was extended through 2019.[12][13] It also established the first Monday in October as National Consignment Day, an annual holiday. The following year, to mark National Consignment day, The RealReal launched a custom sustainability calculator. Developed with environmental consulting firm Shift Advantage, it measures the environmental impact of consignments processed by the company.[14][15][16] In 2019, the company marked National Consignment Day by launching a second sustainability partnership with luxury brand Burberry.[17]

gollark: Much more efficient.
gollark: I pick my political opinions off a political opinion calendar.
gollark: I don't know geopolitics.
gollark: Interestingly, Android actually uses Java for all apps for horrible historical reasons.
gollark: This is why you should never let anyone have access to any computing device of any kind in your room etc.

References
  1. Danziger, Pamela N. "Luxury Brands Can't Ignore Fashion Reseller The RealReal Anymore". Forbes. Retrieved 2019-01-30.
  2. Reid, Hilary (2018-05-14). "The RealReal's Radical Vision of Secondhand Luxury". ISSN 0028-792X. Retrieved 2019-01-30.
  3. "How luxury consignment works at The RealReal". www.marketplace.org. Retrieved 2019-01-30.
  4. Kellaher, Colin (2018-07-25). "Luxury Consignment Retailer RealReal Raises $115 Million". Wall Street Journal. ISSN 0099-9660. Retrieved 2019-04-04.
  5. Tschorn, Adam. "The RealReal's first SoCal store boasts a dedicated men's space, a handbag vault and a 'sneakerdome'". latimes.com. Retrieved 2019-01-30.
  6. "Luxe Consignment Brand The RealReal Opens L.A. Storefront Complete With Whiskey Bar". The Hollywood Reporter. Retrieved 2019-04-04.
  7. Edelson, Sharon; Edelson, Sharon (2019-05-08). "The RealReal Appeals to Wealthy UES Residents With Curation and Service". WWD. Retrieved 2019-11-09.
  8. "Bloomberg - RealReal Plans More Stores to Boost Fashion Resale Economy". www.bloomberg.com. Retrieved 2020-04-03.
  9. Jacobs, Alexandra (2019-01-23). "Tycoon of the Pre-Owned". The New York Times. ISSN 0362-4331. Retrieved 2019-01-30.
  10. "S-1". sec.gov/. Retrieved 2019-06-04.
  11. Maheshwari, Sapna (2019-06-27). "The RealReal I.P.O.: Secondhand Fashion Goes Mainstream". The New York Times. ISSN 0362-4331. Retrieved 2019-07-15.
  12. Edelson, Sharon; Edelson, Sharon (2017-10-02). "The Real Real, Stella McCartney Team to Embrace Circular Economy". WWD. Retrieved 2019-01-30.
  13. Abad, Mario. "Why The RealReal And Stella McCartney Are Calling For Luxury Brands To Embrace Reselling". Forbes. Retrieved 2019-01-30.
  14. "The RealReal Is Getting Real About Consignment Shopping Sustainability". NYLON. 2018-10-01. Retrieved 2019-01-30.
  15. Kliest, Nicole. "See How Many Car Miles You Save When Secondhand Shopping With This Calculator". Who What Wear. Retrieved 2019-01-30.
  16. Monday, Dorothy Crouch |; October 1; 2018. "The RealReal Observes National Consignment Day by Launching Sustainability Calculator". www.apparelnews.net. Retrieved 2019-04-04.CS1 maint: numeric names: authors list (link)
  17. Business, Millie Dent, CNN. "Burberry partners with The RealReal to test reselling high fashion". CNN. Retrieved 2019-11-09.
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