“For fans of Gucci and Louis Vitton there is usually one major factor standing in the way of the shopper and the clothing item of their dreams: an insurmountable price tag. The RealReal, a consignment shop ran by dynamic CEO Julie Wainwright, has created a business model to try and skirt around the high price tags by selling these goods secondhand at their store. The success of The RealReal has surprised many, and they have already raised over an incredible $170 million dollars from investors. The next step of the company, if Wainwright is to be believed, may be an initial public offering on the stock market as The RealReal looks to launch itself even deeper into the world of fashion and shopping.
The RealReal has also branched out in other ways as there are reportedly plans in the works to open a real brick and mortar store in New York City where shoppers can walk in and inspect the items themselves, rather than just shopping online. In addition to that exciting new development, Wainwright and her company have also began expanding away from just the luxury brands and now are selling a number of different secondhand products on their website — but do not worry, but each and every item are still authenticated by someone so you know you are getting quality. In particular, the company is looking to break even further into the men’s shopping circuit as currently 20% of their shoppers are men, a number they are looking to bump up even more in coming years.
A secondhand shop for luxury items is an idea that has garnered quite a bit of support so far, and The RealReal does it better than any other company. If the reports are true and CEO Wainwright is getting ready to bring the company onto the stock market for an IPO then we will get an even better look at just how much investors and traders believe in this idea. But if we are going on past success alone, The RealReal should be widely expected to keep on growing and innovating so that they continue to stand alone in their field.”