The RealReal is a fashion site that sells secondhand luxury clothing. It has a Cheif Executive Officer by the name of Julie Wainwright. Julie Wainwright is looking to secure a $100 million investment for her business. Wainwright says that before the companies final IPO it will receive its last private financing.
The RealReal sells clothing by brands such as Louis Vuitton and Gucci to name a few. It was told to Recode that the RealReal is already pitching to investors for their new funding. Since the company was started seven years ago, it has raised over $170 million.
The RealReal would like to prove that they are able to operate and be successful as a standalone business and are able to do so over a long period of time. That is one reason for the efforts to gain new funding. Another reason is because the company has not just yet accomplished the level they would like in order to attract more acquirers and public-market investors.
By investing in the growth of the RealReal, the company feels that the site can take a larger size market share. It is coming to realization that the secondhand market of luxury clothing has a greater opportunity than it was initially thought to have. Julie has not yet responded to any of these possibilities for looking for fresh investments.
Sellers are able to mail their items to the RealReal and the company’s team that verifies authentication will assure that all items are authentic and spot any possible fakes. Once an item is verified to be the real thing, the company will sell the item and share the profits with the person who shipped the item to them. The seller generally receives 50 to 60 percent of sell profit.
The success and growth of the online site has prompted the RealReal to open a physical location in New York City. The company sells art, Jewelry, home decor, menswear and women’s luxury fashions. The site started selling only women’s fashion but has expanded to other items as listed.