The RealReal is an e-commerce entity that deals with authentic luxury second-hand items. Recently, they were selling new shares worth $70 million. If RealReal can sell all the shares, the firm’s net worth will rise to $1.06 billion. The company is also set to carry out a fundraiser that will help them to expand their capital base.
Julie Wainwright is the founder of the online retailer. She is the current chief executive officer at RealReal. Initially, he was serving at Pets.com as the CEO. By tapping into her entrepreneurial prowess, she was able to form her own company. RealReal has also been able to expand progressively since the firm’s inception in 2011. At the moment, they have more than eight branches where clients can take their items for a completely free valuation process. Their headquarters is in San Francisco. TechCrunch was also able to engage Julie Wainwright in 2017. As the CEO., she confirmed that the company would go public later on through an initial public offering.
RealReal has also been competing with other companies that sell second-hand items such as Poshmark. According to The Wall Street Journal, Poshmark is set to go public soon. The company is collaborating with finance corporations such as Goldman Sachs and Morgan Stanley. Julie Wainwright is confident that RealReal will gain the unicorn status at some point since the company has a promising future.
Since RealReal has focused on luxury consignments, you can also get a Chanel bag or other goods from revered brands such as Gucci and Louis Vuitton. Although other places deal with counterfeit goods, RealReal always acts in the best interests of their clients. They always evaluate each of the products brought forth by different individuals to ascertain their authenticity. As a result, if you need a Chanel bag, you can purchase it online through RealReal. The authentication process is quite rigorous, and RealReal also makes sure that they have hosted a contest whereby the employees are tasked with differentiating between the authentic and counterfeit items. By deploying such strategies, RealReal can grow further. Additionally, they always issue each employee an award whenever they can note the difference between the fake products and the authentic ones.