The RealReal is topping the list amongst businesses who are taking higher leaps in luxury brand sales this year. They opened its second retail location in West Hollywood. An on-site cafe is conveniently situated inside the store, they serve coffee by San Francisco brand Sightglass, pastries and sandwiches from grab-and-go is also served. The company’s founder, Julie Wainwright is proud to announce a private equity capital round of 15 million which makes a total of $288 million increase to date.
The newly opened 12,000-square-foot West Hollywood shop is full of lifestyle assortment. Art and beauty products, clothes, furnishings, and more are sold here. Rati Levesque, chief merchant of the RealReal is proud to say that the company has the largest collection of signature bags like Hermes, Birkins and Kellys, and limited-edition of Dior saddle bags. The RealReal price their items at a fair market value. With all the competition like ThredUp, Poshmark among others. The RealReal managed to maintain their selling advantage. Recently, watches are the company’s fastest-growing category. The company is open for trade-in programs with horologists in the L.A. store to conduct repairs as well as resizing and assessing bands. Handbag appraisers, tailors, and stylists are in-house to cater the needs of clients. The company is focused on authenticating and appraising the items being sold. Consignee is also given an option to drop off items or pick-up.
The company aims to extend the life of the luxury goods they are putting in racks. The RealReal takes care of the goods they have on hand as well as take care of their customers and consignees. Their partnership with some famous Hollywood celebrities like Kardashian-Jenner clan, Chloe Sevigny, and Dwayne Wade, John Legend, Lena Dunham, Susan Sarandon, Will and Jada Smith and family is a good example of how The RealReal is a trusted company.