The RealReal: Its Massive Influence in the Second Hand Market

Selling designer goods through online websites has become rampant today. Most people have no time to go to the physical stores to get some goods. The nature of work cannot allow them to do so, yet, they still need these things. However, online websites have become a solution to most of the purchasing problems people face today. The RealReal is an online consignment shop that has become famous for making purchasing opportunities efficient and easier for people. The company CEO, Julie Wainwright, says plans to expand the company are ongoing. She says seeing the company get some more online presence for shoppers is her main focus.

IPO is about to come, and Julie says she needs to have raised over 100 million dollars before this happens. Although The RealReal has a greater reputation in the private sector, it aims at being more appealing to the public investors. Julie notes that the online website is set to make its move toward the major market. The growth the second-hand market has achieved for its designer or luxury goods is inestimable. According to most of the company’s private investors, more growth is expected. This will increase the company’s returns on investments. The investors also anticipate that the company will increase the sale of the luxury goods in the second-hand market.

The company has also identified another way of selling luxurious goods. With a consignment business model, The RealReal is good to go. Most of the high ticket items supplied to this company find a ready market. Customers find many luxurious goods placed for sale on the company’s website. The seller takes 60 percent of the profit while the company takes the rest. With this online consignment shop, the market for lavish second-hand goods is about to expand. The RealReal has its valuation offices in Washington, D.C., Chicago, L.A., New York, and San Francisco. More than 800 employees work in this company.