The RealReal, an online luxury consignment shop, has emerged its first retail site in the Soho District of New York City. Founder and Chief Executive Officer, Julie Wainwright launched the dot.com company 6 years ago. The illustrious company has experienced skyrocketing growth since startup. CEO Julie Wainwright keyed in on the resale luxury market by cultivating customer trust and brand authenticity for her store. She fosters this by inspecting and authenticating each article of merchandise before the point of sale. The company has created six offices across the US that specialize in valuations and merchandise drop-offs.
The RealReal has held pop-up editions in various places such as New York, which garnered a 2 million dollar peak in revenue. The physical store location launched shortly after in late November. Director of Marketing, Allison Sommer, explained that a pop-up approach allows the company to test markets and gain and an idea of future sales. The brand recently launched a pop-up event in San Francisco which has resulted in a steady increase of local online buyers. The RealReal has other pop-up ventures in mind; the Las Vegas area is scheduled for a pop-up in the near future. The progressive resale company leads the way in revamping our shopping experience as we know it today. The RealReal incorporated a cafe and a flower shop at the posh Soho location in New York. It also attracts clientele by holding workshops and shopping events that explore high-end shopping brands and discuss diamond talking-points.
The RealReal remains on-trend by turning around merchandise on a regular basis. Their sales staff constantly seek opportunities to grow their online inventory and in-store racks. You will find labels like Chanel, Gucci, Celine, and Louis Vuitton housed in their storefronts. A majority of The RealReal’s clients are drawn to their shops due to the fact that high-end retailers do not discount their merchandise. The company normally sell women and men’s premium attire, fine jewelry, and watches, and well-appointed home goods. They remain in-tune with their customers’ desires for the next experience, so they keep their concepts relevant by reinventing new shopping features.