The RealReal is more than just an online destination where a fashionistas can get the latest Chanel bag for the half price. The luxury consignment retailer raked in over one hundred million dollar last year. Doing numbers like this says that the fashion world will be hearing from The RealReal for a long time. The company is ran out of San Francisco, California. Their prime mission is to authenticate luxury goods. They have specialists on staff to assist customers with deciding between the real labels and the knock offs. The company may have started online but with a string of temporary pop up shops and a brick and mortar location in New York City.
In the course of four years, this online retailer of high end consignment goods has been able to tap into the luxury goods market. This company has become a major influencer of how customers shop. If a shopper knows that they can by an expensive, high end good and make their money back, they are likely to go ahead and splurge on luxury items. This has caused for a great luxury resell economy. More and more shoppers are seeing the value of buying luxury items knowing they can make a return on their items. Brands like Chanel, Christian Louboutin, Gucci, Hermes and Cartier are now favorite secondhand items by many fashionistas everywhere.
Julie Wainwright is the chief ececutive officer and founder of the company. She notes that her company’s success is due to how shoppers habits are changing. The days of running to Neiman Marcus, Macy’s and Saks Fifth Avenue are not the only means of getting the hottest designer fashions. Instead, shoppers are embracing technology in how they buy their clothing. Furthermore, shoppers are not caught up on having their items brand new. Shoppers enjoy being apart of a culture that allows them to shop, buy, sell and trade secondhand items with others. The CEO began her company from her kitchen table and a U-Haul. Now, the fashion founder is a trendsetter in a billion dollar space absorbed by the desire to have secondhand fashions.