The RealReal Redefining the Consumer Retail Industry with Its Unique Reselling Concept
People these days are very conscious of the brands of clothes they wear and the brand of phones and accessories they use on a daily basis. The brand you use in just about anything reflects upon your personality as well as your social and economic status, and most people want to use a reputed brand to have a right image among the friends, family members, and colleagues. However, many of the high profile clothing and accessories brands are too expensive for everyday people, and mostly, middle-class people have to settle for a mid-range brand even when they desire a better and higher brand.
One of the online e-commerce companies that have been redefining this sector entirely by providing people with original brands clothes, accessories, and other associated items at a low price is RealReal. The company was started around seven years ago by Julie Wainwright, and since then has achieved great heights of success in a very short period. Not only has the company’s consumer base increased drastically in the past few years, but its sales have also been reaching new heights year after year. Last year, the sales revenue of the RealReal was around $100 million, and it is expected to grow in the years to come.
Julie Wainwright, the founder and the CEO of the RealReal recently announced that she is planning to raise another $100 million in funding from the potential investors for the company’s innovative plans and expansion drive. It would help the company to consolidate its position in the market as well as solidify its market reputation further. The market efforts of the RealReal would also get a considerable boost in the flow of new and renewed marketing funds. Julie Wainwright said that this funding would be the last for the time being until the company launches its IPO, which is expected to be soon.
The RealReal has a strong market image among the people as it has a very rigorous process to ensure that the company only accepts the original items, and refurbish it before sending out to the buyers. The customer service of the company is top notch, and most of the items that the company stores are sold out within a month at the latest.