Chris Holden

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The Real Real is the Future of Resale

by Chris Holden - October 14th, 2019.
Filed under: Company Profiles.

Things in retail are changing. Rather than rushing out to purchase the latest trends, trapper’s I’m more interested in resale than ever before. The RealReal, a hot spot for gently used luxury items, saw their stock price increase sharply by 40%, a sign of this trend’s power.

From their app and website, RealReal is a place where anyone can find secondhand Chanel, Gucci, Cartier, or Christian Louboutin for just a fraction of what retailers charge. Their appeal can be measured by the $300 million they received after going public.

Julie Wainwright was once the CEO of Pets.com, but took the chance to start something new in 2011. The RealReal has been met with a positive reception, so much so that they pulled in $207 million in sales over the last year.

According to cnn.com, with an average sale bringing in $446 from each transaction on their website, the app, or their stores, The RealReal is able to focus on bringing a better experience to their customers.

Selling through The RealReal comes with benefits. People who offload their products through them, The RealReal provides them with consultation services. That includes the advice from experts in horology and gemology to authenticate jewelry and watches that come to the resale outfit. And if things continue at this rate, The RealReal is looking to expand their physical footprint with more physical locations to match their stores in New York and Los Angeles.

Based on cbsnews.com, wanting to grow is something The RealReal is currently invested in, and they’re relying on young people to make that happen. Millennial shoppers are increasingly concerned with the state of the environment and their part in it. Big retailers are taking note of this, which is why Neiman Marcus and H&M are reselling their products as well.

About The RealReal:

Julie Wainwright is the Founder and CEO of The RealReal. Formerly with Pets.com, Wainwright penned the idea for this startup from her kitchen table. It started off as a small company with big intentions surrounding retail and accessibility to luxury. Since 2011, The RealReal has been the place for millions of shoppers to get their hands on quality goods while playing a role in sustainable fashion, whether buying online or from one of their locations in Los Angeles or New York. For more details about Real Real you can visit techcrunch.com

https://www.bloomberg.com/profile/company/REAL:US

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