The RealReal is a luxury consignment shop whose products include apparel for women, men, kids, and accessories such as watches, jewelry, handbags, and art pieces. The RealReal brand was founded in 2011 by Julie Wainwright who is an e-commerce entrepreneur. Their headquarters is located in San Francisco, California and has between 1000-5000 employees.
The RealReal sells designer brands that are authentic and for up to 90% off retail prices. These brands include, Chanel, Louis Vuitton, Gucci and many more. When signing up via email subscription for the latest news, updates, and upcoming sales, customers are honored with a $25 dollar credit. Also, if you refer a friend to shop with The RealReal you are honored with a $125 dollar credit that can be used at the store or online.
Since its location in LA is open and running, not everyone is able to use the consignment feature and go to the store in order to receive payment for their merchandise. The RealReal has made a very convenient way for people to consign right from home. They have a designers list to see all the brands they accept in return for payments. The first step is to set up a method to get your items to their store, either to schedule a free in-home pickup, or ship your items with a free, prepaid label. Their team of over 40 experts in all areas will then evaluate your items, authenticate, photograph and sell the items. Once your item are sold, you can get paid via direct deposit, mailed check, or site credit. If you choose to get paid via site credit you earn an extra 5% back.
In recent news, The RealReal has recently raised $115 million dollars in series G funding. The total equity capital raised is now up to $288 million. The funds raised will be going towards new fresh looks of their building, and to help with purchasing more exclusive items for consumers.