This will give information surrounding a company called “The RealReal”. It will open up recapping a blog by Jason Del Rey called “The RealReal- the fashion site that sells secondhand Gucci and Louis Vuitton- wants to raise a new $100 million investment”. Then general information will be provided. Julie Wainwright who is the CEO for the company “The RealReal” has made a proclamation that the next round for private financing for hers would be the last one before an IPO would occur.
Wainright, who is responsible for establishing this site of luxury which is known for selling clothing that’s second hand. Examples are “Louis Vuitton” and “Gucci”. This company already had brought out over $170 million since it had begun seven years before. This company has been working under a model of shipment. This is where seller deliver out goods to the company. After that, the company will sell an item and then share the proceeds given from that item. They will share with a person an amount often around a percent of fifty to sixty. The site had originally begun with a focus of luxury fashion of women that has been branching out into the products of home décor, watches, jewelry, art, and menswear as well. It also has location of brick-and-mortar in New York City with probably more to come as well. This particular company is one of a couple of online businesses that are venture-backed in the sector of fashion resale. To go along, they still have the attempt to try and stand to be carving off fragments of the businesses while furthering it.
Now,general information about “The Real Real”. This company is based in San Francisco, California. It has been out for a little more than six years. It has focused on creating genuine and resale items that are high-end for the home, as well as men and women. Also, this company has given jobs to over 800 people. Also, in the last several months the company has opened up six valuation offices in locations like Washington, D.C., Chicago, L.A, San Francisco, and New York.