The RealReal online marketplace was established back in 2011 by an entrepreneur by the name of Julie Wainwright.
RealReal Inc. is one of the world’s top marketplace for luxury consignment. What is a luxury consignment? Luxury consignment is when people have high-end fashion items and decide that they don’t want those items anymore.
Some of the items have been used but the best thing about luxury consignment is that some of the items may still have the tag on them; which means that they are practically still new. Julie Wainwright founded this company because she felt that people that couldn’t afford to buy luxury items at retail deserves to treat themselves to something nice in life even if it’s considered high-end.
The RealReal sells different items ranging from clothes, watches, home décor, and other jewelry. The resale of stunning, like-new designer goods from Gucci and Cartier, at a smaller price, takes the “elite” of the brand out of the recipe for success.
Reports as of July 2018, it shows that the company has generated $288 million in capital funding and since then is constantly growing. Real has retail locations in New York City and the second location in Los Angeles, California.
New York Times Article
The article focuses on talks about the rise of the successful online marketplace that has recently gained momentum in the stock market world. On June 21, the RealReal took its first leap into stocks. The company announced that they would have a single share in the stock at $20.
Customers around the world of this company have already reported to have bought stocks within the RealReal. Success has already started to show where in Nasdaq the numbers are almost 40% which is pretty good. A lot of top designer brands aren’t happy about the rise of the company. Visit This Page for additional information.
They feel as though it is hurting their business because people aren’t buying the items from the retailers. Wainwright states that selling from consumer to consumer results in the economy booming for everyone.
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