In this day and age luxury brands like Hermes, Rolex, and Gucci, are thriving compared to discount retailers such as Ross and Burlington, whom The RealReal is posing a threat to. Jelie Wainwright, the CEO of The RealReal, spoke of how many of the smartest and richest people she knows are talking about this, because they know great value when they see it. From 2016 to 2021, this company will have grown from $18 Billion to $33 Billion, according to Debra Weinswig, the CEO of Coresight Research. Wainwright says they are negotiating with multiple markets right now to open big stores with the proper amount of character.
Those in the fashion world are raving about The RealReal. This rather new designer online consignment shopping app is changing the way people find luxury items such as Gucci and Chanel. They will be opening their second store, this time on the West Coast in L.A. , measuring out to be a whopping 12,000 square feet. Located in SoHo, New York City is their first store, where the journey into a new frontier began. Right in the middle of the store they have specialists of every field ready to interact with both shoppers and sellers. With a 35 ft. wall complete from ground to ceiling with ready to wear women’s shoes and Hermes Berkin bags, this place truly has it all.
At their new store, not only will they be offering authenticated clothing, bags, jewelry, and accessories from luxury fashion brands, they will be housing a high quality cafe experience serving up coffee, juices, salads, and pastries. As if all that was not enough, T.R.R. will be offering their first stand alone men’s store, which includes a watch and whisky bar with rare sneaker installation. With curbside services for those who want to sell luxury items, anyone can have their items cleaned, priced, or repaired by fashion experts.
After learning all this, one would be crazy not to take a look.