Online luxury consignment store, The RealReal delivers its luxury consignment experience to consumers online, in their luxury consignment offices and in their brick and mortar stores.
The leader in the vibrant resale market for luxury goods, the RealReal works with in-house brand authenticators, gemologists and horologists who day by day scrutinize thousands of objects.
Julia Wainwright launched the company in 2011 after researching the second hand luxury market and discovering the deficiencies in the market.
At the present time, the company’s more than 1,000 specialists, known as “the RealReal Experts,” assure any purchased item is not a knock-off but genuine.
Wainwright pointed out the importance of authenticity at the RealReal. Points to consider include checking the stitching on a handbag and examining the leather smell to be sure it smells like leather and not more like nail-polish remover.
Since its launch, the web site has caught the attention of more than eight million members. Half of all purchases are made by first time buyers and half of the site’s sellers have never consigned, according to a story in the New Yorker, (www.newyorker.com/culture/on-and-off-the-avenue/the-realreals-radical-vision-of-secondhand-luxury).
Inventory items range from a Gucci hoodie, Chanel ankle boots to luxury designer fashion, luxury resale and works of art.
To make consigning easier, services such as items from homes being picked up at no cost; drop off services and direct shipping are available. And at the brick and mortar stores, customers can meet with experts to gain knowledge of authenticity.
Luxury consignment offices are located in Chicago, Los Angeles, Dallas, Miami, New York, San Francisco and Washington, D.C.
The RealReal recently announced a pop-up shop in Las Vegas at Caesars Palace. The shop will make items available such as women’s and men’s fashion, jewelry, home furnishings from designers such as Chanel, Hermes, Cartier and more.
The San Francisco-based RealReal recently announced a $50 million round of funding from the private equity firm Great Hill Partners. A year earlier The RealReal received a $40 million Series E round of funding which was led by Greenspring Associates.