The RealReal is a name that is well known to people who like high-end fashion items. For those people who do not, they are a consignment company that sells luxury brands that have been used although sometimes the products are in as new condition. While the prices may still be high, the cost of the luxury brands are expensive to begin with. While most of the shopping is done online, the company does have traditional stores in both LA and New York. Julia Wainwright founded the company seven years ago, but they are already a market leader.
There are three familiar brands that are the best sellers for RealReal. Chanel, Gucci and Louis Vuitton are always the most sought after labels. The company has branched into menswear along with home furnishing, but Wainright has so far not delved into the wine or car markets. She feels that there is too much risk in those areas. She is happy sticking with fashion items, and business is good. Most products last fewer than 90 days before they are sold.
The process is fairly simple. Items arrive at the main shipping location at which point they are examined for quality. There is then the need to make sure the products are as they are labeled. Items like watches and jewelry are analyzed by professionals who are highly trained in appraising.
Once the entire initial process has been conducted, the items are correctly labeled for resale. The next step is to price the product to reflect the quality, but they must also factor in that they will be less expensive than the initial, original sales price. The photographs of the items need to be put on the website to attract customers. The final stage is to correctly store the item so they can be retrieved and shipped as soon as they are purchased.