The RealReal is not just any old consignment store. They make it affordable to buy luxury goods, and they are not only selling luxurious items, but they are selling investments to their buyers. The inline consignment store makes it possible for people to sell their unwanted items and to give unused times a second chance.
They also sell luxury items for the home and has store locations in Los Angeles and New York. They are introducing high-end items such as Chanel to the masses and bringing out the forgotten gems from the backs of closets everywhere. They have created a life cycle of luxurious items that are in high demand. Most items offer a 60% to 80% return, and 80% of their consigners are using their commission to shop in the primary market which is helping to be successful as well.
The RealReal is continuously adjusting their selling methods to match the market and they also tip off their consigners so that they know the best time to sell certain products for the best profit. They can also tip off clients that an item that they want is available.
The RealReal has consigned well over 8 million pieces of gently used luxury items and accessories and has over 9 million members. The RealReal is getting more into physical stores, and pop-ups have also proven to be quite successful too. It actually helped to accelerate the growth of the company and everything in-store is also available online which is a huge draw and money-maker. Every item in-store has a chip in the tag so it can be located. This makes it possible to stay extremely organized and makes room, for leverage too. If an item is being tried on in a fitting room it will show up as on hold on the website.
The RealReal is big business. They have over 600 employees and multiple locations spread over the United States. They are a used luxury brand company that is passionate, sustainable, and authentic. The RealReal is worth $450 million and continues to grow in popularity as the company gains interest.