The RealReal is a leader in authenticated luxury consignment. An e-commerce based out of San Francisco, California, they provide the largest selection of pre-owned and authenticated luxury items. This includes:
- Men’s luxury fashion
- Women’s luxury fashion
- Fine jewelry
- Fine art
Top designer brands are sold through The RealReal. Brands such as Chanel, Louis Vuitton, Cartier, Rolex, Andy Warhol, and Sam Francis, among hundreds are carefully inspected and authenticated, then curated for daily sales. The RealReal provides easy free white glove pick-up in 16 U.S. cities, or free shipping by FedEx. The RealReal team is comprised of gemologists, horologists, art appraisers, and luxury experts, to ensure you will receive authentic pieces.
In 2018, The RealReal has been able to raise $115 million in Series G funding. Using another round of investment, as they have only been on the scene for seven years, The RealReal hopes to build new fulfillment centers and more brick-and-mortar shops. After this recent funding, The RealReal has in total raised $288 million in private equity capital. This start-up company is thriving because it found a niche, providing consumers another way to acquire luxury goods, such as buying authentic items second-hand. Consumers have been focusing their time on e-commerce, thus creating a retail store online has allowed the company to make its mark. These shifting trends have put this company in god favor with investors.
The funding was led by PWP Growth Equity, which is a middle market private equity group of Perella Weinberg Partners. Also, there was additional help from new investor Sandbridge Capital and existing investor Great Hill Partners. Another investor, Chip Baird, the co-founder and partner if PWP Growth Equity, also became a member of The RealReal’s board of directors. Online resale will continue to thrive, its expected worth to be about $41 billion by 2022. Millennials frequently shop online, looking for bargains, reusing, and recycling for items.
The RealReal currently has a brick-and-mortar shop in Soho and LA, but wants to expand on that to reach out to more potential consumers, such as opening a shop in Manhattan. The founder of The RealReal, Julie Wainwright, plans to release more jewelry and watch appraisal centers all over the nation. Wainwright is providing a feasible way to access luxury goods of quality and authenticity.