The RealReal, an online luxury consignment store, promotes authenticity. The company recently opened a store in the SoHo Location in New York. The company was founded by Julie Wainwright, the former Chief Executive Officer of Reel.com and Pets.com.
The RealReal has a team of brand authenticators, horologists, and gemologists look over luxury items to ensure that those items are authentic. Wainwright says that The RealReal helps buyers gain the feeling of being a connoisseur of elite luxury fashion.
Wainwright says that the idea to start the company was based on a shopping trip that she took with a friend in Silicon Valley. They stopped in a boutique and purchased several luxury consignment items. Wainwright started doing research on the secondhand luxury market. She searched through her own personal items and tried selling them on eBay, local pawn shops, and local consignment stores. Wainwright’s experiences through selling her personal items led her to open The RealReal. The company has offices in New York and California, and has raised over a hundred million dollars in venture capital.
The company website has millions of members. Wainwright says that The RealReal has attracted people who have never purchased secondhand clothing. The RealReal has thousands of luxury items that are professionally photographed. Wainwright believes that feature gives The RealReal an advantage over the competition. Another feature on the company website is that every page loads with a waterfall effect. This feature was created to help enhance the shopping experience for buyers.
The RealReal organizes free workshops to help give customers some inside information on luxury fashion items. The company even has a guide to help customers learn the proper pronunciation of different items. Wainwright says that this is intended to help make the luxury fashion market more appealing to people who may have never considered themselves to be fashion experts.
Wainwright says that the artistic influence of The RealReal comes from her background. Wainwright hopes that The RealReal will change how people shop for elite fashion items.