One of the most celebrated and authenticated luxury e-commerce consignors around, The RealReal will now further cement their plans to develop random pop-up shops in major cities located across the United States throughout 2018. This new push comes after they had launched a very successful pop-up store based in New York City’s SoHo district that generated as much as $2 million back in 2016. The RealReal’s Director of Marketing, Allison Sommer, explained how the in-store experience helps to bring more visibility to their e-commerce site as well as dramatically boost sales. The company has seen an increase of up to five hundred percent in online sales after they had opened a pop-up in San Francisco. The RealReal are planning to open their next pop-up shop in Las Vegas and will unveil more upcoming locations throughout the year.
TheRealReal was launched by Julie Wainwright on March 1, 2011. The company has its main office based in San Francisco, California. The RealReal’s platform allows its members to become individual consignors to sell their luxury products. They can earn a start of 60 percent in commission and gradually reach up to 70 percent for every retail sale they make. The company’s new pop-up stores will primarily hire professional sale associates that used to work for premium brands such as Gucci and Sotherby’s. Their in-store consignment locations occasionally offer educational workshop training and private shopping experiences that cater to VIP members only.
Today, their e-commerce site has reached to over seven million members worldwide, consisting of both buyers and sellers. TheRealReal initially started out of the kitchen of CEO Julie Wainwright’s home and now the consignment has quickly become the premier source for authenticated luxury brand products. They provide a long list of inspected and authenticated designer labels to choose from including high-end apparel, watches, fine jewelry, home decor and many other luxury items that are available to ship to many locations throughout the world. In 2015, CEO Julie Wainwright was listed on the The Business of Fashion’s 500 for her luxury consignment company’s overall success in the fashion industry.
Find out more about The RealReal: https://techcrunch.com/2017/06/06/the-realreal-ropes-in-50-million-in-new-funding/