Not everyone has the resources to buy a brand new Chanel bag, or a pair of Gucci sunglasses, but that doesn’t mean that they have to miss out on owing a product from a brand they love. The RealReal is a high end consignment shop that makes it easy for anyone to dress like they have a trust fund bank account.
Investors are tuned into the fact that many consumers what high-end brand name designer attire, they just don’t want to a spend normal high end retail price to own them. A consignment shop where consumers can shop either online or in the brick and mortar store-front shop is a dream come true from bargain hunting consumers. They are able to get designer merchandise, at a fraction of what these items originally cost.
The 115 million dollars raised in series G funding, brings the company’s total funding to 228 million dollars. The company plans to use this funding to expand it’s brick and mortar presence and to build new fulfillment centers, both are great news for fans.
The demand for the products that The RealReal stocks, it expected to continue to grow. More and more consumers are searching for ways to live a luxurious life and to copy the fashion trends that their favorite stars embrace, but they don’t want to break the budget to do so.
This enables The RealReal to meet a demand that others may be ignoring. When you can give consumers what they crave, they will come, and apparently, so will the investors, who can help the business grow. This is all great news for the savvy consumer who is looking for the best, for less money.
Going forward, The RealReal’s goal is to bring their unique marketplace to more and more consumers, and to attract more consignors. This goal seems well within their reach.
Find out more about The RealReal: https://www.nytimes.com/2017/12/13/fashion/the-realreal-consignment-store.html