The RealReal

The RealReal, Inc. is an online and brick-and-mortar marketplace for authenticated luxury consignment.[2] 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.[3][4]

The RealReal, Inc.
TypePublic
NASDAQ: REAL
IndustryRecommerce
Founded2011
FounderJulie Wainwright
HeadquartersSan Francisco, California
ServicesAuthenticated Luxury Consignment
Revenue $300 Million(2019)[1]
Number of employees
1700 (2019)
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.[5]

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.[6][7] In 2019, The RealReal opened a third retail location, its second in New York, on Madison Avenue on the Upper East Side.[8] In 2020, The RealReal opened a fourth retail location in San Francisco’s Union Square,[9] a fifth in Chicago on the Magnificent Mile[10] and a sixth in Palo Alto, California[11]. In 2021, the company opened an additional retail location in Brooklyn, New York.[12] As of February 2021, The RealReal had 12 Luxury Consignment Offices across the U.S., seven of which are in its retail stores.

In early 2019, The RealReal 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.[13] In 2020, the company announced it signed a lease to open an additional e-commerce center in Phoenix, Arizona.[14]

On May 31, 2019, The RealReal submitted a preliminary filing (S-1) to the SEC to go public.[15]

On June 28, 2019, The RealReal went public on Nasdaq under the symbol REAL.[16]

Sustainability

In 2017, The RealReal announced a sustainability partnership with luxury fashion brand Stella McCartney, which launched in 2018.[17][18] 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.[19][20][21] In 2019, the company marked National Consignment Day by launching a second sustainability partnership with luxury brand Burberry.[22] For National Consignment Day 2020, The RealReal announced its third sustainability partnership with Gucci.[23] When consumers consign or buy Gucci on The RealReal through the end of 2020, a donation will be made to One Tree Planted to support its mission to protect biodiversity and reforestation.

References
  1. https://www.globenewswire.com/news-release/2020/02/25/1990465/0/en/The-RealReal-Announces-Fourth-Quarter-and-Full-Year-2019-Results.html
  2. Danziger, Pamela N. "Luxury Brands Can't Ignore Fashion Reseller The RealReal Anymore". Forbes. Retrieved 2019-01-30.
  3. Reid, Hilary (2018-05-14). "The RealReal's Radical Vision of Secondhand Luxury". The New Yorker. ISSN 0028-792X. Retrieved 2019-01-30.
  4. "How luxury consignment works at The RealReal". www.marketplace.org. Retrieved 2019-01-30.
  5. Kellaher, Colin (2018-07-25). "Luxury Consignment Retailer RealReal Raises $115 Million". Wall Street Journal. ISSN 0099-9660. Retrieved 2019-04-04.
  6. 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.
  7. "Luxe Consignment Brand The RealReal Opens L.A. Storefront Complete With Whiskey Bar". The Hollywood Reporter. Retrieved 2019-04-04.
  8. Edelson, Sharon (2019-05-08). "The RealReal Appeals to Wealthy UES Residents With Curation and Service". WWD. Retrieved 2019-11-09.
  9. "Bloomberg - RealReal Plans More Stores to Boost Fashion Resale Economy". www.bloomberg.com. Retrieved 2020-04-03.
  10. Palmieri, Jean E.; Palmieri, Jean E. (2020-10-23). "The RealReal Opens Store on Chicago's Michigan Avenue". WWD. Retrieved 2020-10-23.
  11. "COVID Shopping: Palo Alto Luxury Consignment Shop The RealReal Sees Surge in Business Amid Pandemic". 2020-11-24. Retrieved 2021-02-05.
  12. Petrarca, Emilia (2021-01-26). "The RealReal Has Arrived in Brooklyn". The Cut. Retrieved 2021-02-05.
  13. Jacobs, Alexandra (2019-01-23). "Tycoon of the Pre-Owned". The New York Times. ISSN 0362-4331. Retrieved 2019-01-30.
  14. www.bizjournals.com https://www.bizjournals.com/phoenix/news/2020/12/17/the-realreal-leases-phoenix-distribution-center.html?. Retrieved 2021-02-05. Missing or empty |title= (help)
  15. "S-1". sec.gov/. Retrieved 2019-06-04.
  16. 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.
  17. Edelson, Sharon (2017-10-02). "The Real Real, Stella McCartney Team to Embrace Circular Economy". WWD. Retrieved 2019-01-30.
  18. Abad, Mario. "Why The RealReal And Stella McCartney Are Calling For Luxury Brands To Embrace Reselling". Forbes. Retrieved 2019-01-30.
  19. "The RealReal Is Getting Real About Consignment Shopping Sustainability". NYLON. 2018-10-01. Retrieved 2019-01-30.
  20. Kliest, Nicole. "See How Many Car Miles You Save When Secondhand Shopping With This Calculator". Who What Wear. Retrieved 2019-01-30.
  21. 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)
  22. Business, Millie Dent, CNN. "Burberry partners with The RealReal to test reselling high fashion". CNN. Retrieved 2019-11-09.
  23. Farra, Emily. "Gucci and The RealReal Announce a Game-Changing Partnership". Vogue. Retrieved 2020-10-07.
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