Description
The RealReal, Inc. is an online and brick-and-mortar marketplace for authenticated luxury consignment. Based on the circular economy, The RealReal sells consigned clothing, fine jewelry, watches, fine art and home decor. It employs an in-house staff of experts including horologists, gemologists, art curators and luxury fashion authenticators who inspect items for authenticity and value.
History
The RealReal was founded in 2011 by Julie Wainwright, an e-commerce entrepreneur. By July 2018, the company had raised $288 million in venture capital funding.
In 2017, The RealReal opened its first permanent retail store in New York City. It also opened pop-ups in San Francisco and Las Vegas. In 2018, it opened its second retail location in Los Angeles. In 2019, The RealReal opened a third retail location, its second in New York, on Madison Avenue on the Upper East Side. In 2020, The RealReal opened a fourth retail location in San Francisco’s Union Square, a fifth in Chicago on the Magnificent Mile and a sixth in Palo Alto, California. In 2021, the company opened additional retail locations in Brooklyn, New York, Newport Beach, California, Greenwich, Connecticut, Austin, Texas, Dallas, Texas, Marin, California, Atlanta, Georgia, and Manhasset, New York. As of August 13, 2021, The RealReal had 17 Luxury Consignment Offices across the U.S., 14 of which are in its retail stores.
In early 2019, The RealReal announced it would be adding a half-million square foot e-commerce space in Perth Amboy, New Jersey, to its existing e-commerce centers in Secaucus, New Jersey, and Brisbane, California.[20] In 2020, the company announced it signed a lease to open an additional e-commerce center in Phoenix, Arizona.
On May 31, 2019, The RealReal submitted a preliminary filing (S-1) to the SEC to go public.
On June 28, 2019, The RealReal went public on Nasdaq under the symbol REAL and it raised $300 Million during its IPO.
