Beginning from her kitchen table, to becoming the premier spot for online luxury consignment, CEO Julie Wainwright is an entrepreneur with not only strong business sense, but luxury sense as well. This combination has led to over 800 employees, along with multiple locations across the US that ship product worldwide.
Celebrating artists, designers and appreciating quality craftsmanship, The RealReal has become the industry leader in authenticated luxury consignment. Offering the largest selection of pre-owned luxury items from designers such as Chanel, Louis Vuitton, Hermès, Rolex, Cartier, just to name a few, consignors receive 60% of the sale price to start, and have opportunity to increase from there. Believing in the lifecycle of luxury, understanding that sharing designer items is all about recognizing the beauty and giving someone else an opportunity to enjoy it, is what this company is all about.
Their dedication to their customers and consignors, their consistent strategic planning to grow and innovate truly shows how passionate they are about sharing the designer experience. Landing a phenomenal $50 million in growth funding afforded them the opportunity to open a brick and mortar store in New York, after seeing the success of a pop-up store in New York’s Soho neighborhood. The pop-up store generated over $2 million in revenue, and most of the customers were new to the company. Before the temporary store, some had never heard of The RealReal, and some of those that had, did not fully understand the true quality and authenticity of the product line. With the ability to physically see the designer luxury, and with the obvious customer success, a plan for a permanent brick and mortar was set in motion.
Attributing much of their success to focusing on the designer luxury market, there is a very large emphasis on authentication. Every customer can be assured they are walking in style with a genuine article whether purchased online, or within the physical, New York, brick and mortar store.
The RealReal is a genuine luxury leader. Their passion, their love for the luxury world along with the customers and cosigners has proven to be unsurpassable.