Luxury Consignment from The RealReal

Consignment sites such as Grailed, who focuses on streetwear has had great success. There is also Heroine, who sells women’s wear. Vestiaire Collective and 1stdibs are two other popular ones. The RealReal has also had huge success and has raised $173 million since it was founded in the San Francisco Bay area in 2011 by Julie Wainwright. She began working in tech in the 1990s and was chief executive of Pets.com which was a popular website with a memorable dog sock puppet in its commercials.

The RealReal sells high-end consignment at nonluxury prices. The strict authentication process is why the RealReal is so well trusted. The company holds “find the fake” contests where authenticators gain prizes after identifying signs on the counterfeits.

All items in the store can be sold online at the same time. If a customer in the store is looking at an item a sales associate can scan the item which temporarily removes the item from the online store. Even in the store, you look at items knowing they could disappear any second. This is the same feeling most have when shopping online. This is also the reason that customers search the available consignment daily.

The RealReal store was designed by the interior designer for the Row, Courtney Applebaum. At the front of the store, there is a flower shop to buy Fox Fodder Farm stems. Downstairs there is a coffee shop and weekly workshops are helping to teach all in attendance how to spot fake Louise Vuitton, Chanel, and designer sneakers. In the middle of the floor is a collaborator-curated space that changes companies monthly. Near the collaborator-curated space is racks that you slide out from a large area of hidden cabinets. While waiting for your items to be appraised you can sit on textural couches.

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