When you find something truly special, whether it’s inside of a thrift store or maybe a yard sale, there is a certain degree of excitement that accompanies that find. When it comes to luxury goods these finds are rare, if not impossible. When you do find something that would be considered a luxury good, it’s often accompanied by a sense of panic as to whether or not it is actually real. The RealReal has you covered with their experienced sales staff and exceptional appraisers. The unique thing about The RealReal is that they only deal with luxury goods that are secondhand, so they know exactly what they are looking for to spot a fake. Apparently, the service was sorely needed because since it was founded in 2011 it has exploded. People have shown that they need a way to feel secure when buying used luxury goods.
On recode.com there is an article discussing some of the expansion moves that are being made by The RealReal’s founder Julie Wainwright. Wainwright is hoping to increase private funding for her company in order to expand. She wants the company to meet more of the national and global needs that are growing based on its founding. The company has also had an unintended impact on the luxury good market in general. It seems that while the luxury goods are being purchased at a fraction of the price through the consignor it is also boosting sales for normally priced goods as well. The best thing about this service is that it allows individuals to use the goods before they purchase them, building loyalty for the brands that they feature. This is a very important step in a lasting partnership between Wainwright’s company and luxury brands such as Chanel, Gucci, and Louis Vuitton.
While there is still much that the company can do to increase their stock and retail footprint, they have shown that they are excellent at implementing their business model. It is apparent that Wainwright understands what people need, and she is working to provide them with the goods that they would not normally be able to afford.