For a shopping experience that is unlike any other, the once online brand, the RealReal will take you on a shopping adventure. The founder, and Chief Executive Officer, Julie Wainwright has created a shopping phenomenon that has increased it’s revenue by five hundred percent since it’s beginning. About six years ago, she started her brand as an online shopping business only. In 2016, she opened her first brick and motor business in New York City where it was received with great interest. She later tried a pop up shop in San Francisco, and it proved to be even more successful than anticipated.
The pop up in San Francisco was there for two months. After closing the temporary pop up, the online business saw a five hundred percent increase in sales coming from the San Francisco area. Due to the success of the pop up in the Bay area, the next pop up location is planned for Las Vegas, with the brand opening in other locations throughout the United States in the year to come. The flagship store in New York was endowed with a flower shop and a cafe, but the upcoming stores will not have that attraction. The new pop ups will, however, have premium, quality expertise from the gemologists who will assist the customers, to the authentication specialists.
The RealReal is a consignment shop that sells only designer products from consignors. Those who sell their products through the RealReal are people such as Saudi Princesses, and celebrities. Both men and women take advantage of the products that the RealReal has to offer, although they would like to see an increase in the male buyers. Their products consists of items like Rolex Watches, and other fine jewelry, designer bags, and luxury fashions for men and women. The business is anticipating a five hundred million dollar value in gross merchandise this year. What makes the RealReal so unique is that their consignors are also buyers.
Find out more about The RealReal: https://therealreal.zendesk.com/hc/en-us