After raising 170 million dollars in investments since its launch, consignment luxury company, TheRealReal, is planning on proposing an extra 100 million dollars from investors before making an initial public offering. This fundraising effort is a result of an increasing second-hand luxury item market, or it is an effort to appeal to appeal to open market investors, thus proving its potential as a long-term stand-alone business. Once thought of as a rival, luxury brands were hesitant about TheRealReal. After determining that this company can facilitate the growth of their companies, the parent company of Yves Saint Laurent and Gucci, Kering, presently collaborates with TheRealReal in the sale of their items. Today, the luxury business industry totaling 1.5 trillion dollars.
Founded in 2011 by Julie Wainwright and based in San Francisco, California, TheRealReal started an online home business while visiting the homes of consignors. Wainwright, with her company, committed to the quality of the items sold, TheRealReal sells high-quality fashion accessories and art from well-known artists and designer labels. Artwork sold through RealReal includes artists such as Sam Francis, Andy Warhol, and Roy Lichtenstein. Luxury fashion items, watches, and fine jewelry include famous labels such as Gucci, Yves Saint Laurent, Chanel, Hermès, Arpels, Van Cleef, Rolex, and Cartier. Each item is inspected and authenticated by a team of experts such as luxury experts, horologists, art inspectors, and gemologists.
Committed to building a world-class company, TheRealReal became a premier online consignment business expanded to over 600 employees, has multiple locations throughout the United States and accepts and ships items worldwide. In 2017, TheRealReal set up a brick and mortar store in the Soho neighborhood in Manhattan, New York.
Julie Wainwright, founder, and CEO of RealReal is a pioneer in the e-commerce field starting with the website Reel.com in 1997 and Pets.com in 1999. Awarded with the FashInvest Innovation Award in 2013, and recognized by the San Francisco Business Times as a top female entrepreneur, she went on to become the most admired CEO, and one of Tech Crunches “40 Over 40” Silicon Valley entrepreneurs in 2014.
Find out more about The RealReal: https://www.instagram.com/therealreal