The RealReal is a second hand luxury e-commerce company were purchases can be made on the desktop, laptop, or even the mobile app. The company was founded by Julie Wainwright and she is currently the Chief Executive Officer of the business as well. Julie Wainwright is a strong, confident, business woman who has started other startups as well like Pets.com. The RealReal is currently planning on opening up a brick and mortar store in New York, City. This startup has been extremely successful it has gotten 123 million in venture capital funding. The company has sold 500 million in gross merchandise most of it on their mobile app. Julie Wainwright states that the company is successful because they do good honest business. They only sell the best second hand luxury brands. They also inspect and authenticate everything that they sell.
The RealReal also has great deals and has saved customers lots of money while shopping for second hand luxury brands. The company provides deals on high-end brands like Gucci and Louis Vuitton. The resale market has been booming in recent years. In the last eight years the RealReal has been the top e-commerce resale business to date. The company did launch its first brick and mortar in New York in November 2017. The New York launch was extremely successful and in July 2018 the RealReal launched a second brick and mortar in West Hollywood, California. There was a study done in 2018 and the study showed that shoppers have gotten very savvy and are opting for secondhand shopping experiences at increasing rates. The resale market has become a serious disrupter for the retail market because the e-commerce platforms have made it easy for people to buy, rent, subscribe and resell.
The resale industry has grown 49% from 2017 to 2018. This is amazing growth for one year and studies have shown even more potential increases for 2019 and beyond. The e-commerce retail growth is 24 times higher than the traditional retail stores. It is reported that the resale industry made twenty billion dollars of the retail sales and this is expected to increase to 41 billion by 2022. It is companies like the RealReal who have become the Uber of the retail industry.