Consignment going Mainstream?

Updated: Nov 16, 2019

Julia Wainwright is the CEO/Founder of the luxury consignment online and brick-and-mortar marketplace The Real Real. Julia was the CEO of Pets .com until the company folded in 2000. After going through some turbulent times in business and in her personal life she had a period of self discovery. In 2011 Julia launched The Real Real (TRR) after a few years of extensive research and even selling some luxury items from her very own closet. In 2015 the startup was valued at 300 million, by 2017 TRR employed 950 people with 500 million in annual revenue. Fast forward to 2019 the company is now traded publicly on the stock market. Surprisingly enough there was a time when investors would question such a business model due to uncertainty of its scalability. Leading us to the question "could this be the death of fast fashion?"As the fashion industry shifts its focus to sustainability one may wonder How Fast Fashion Giants like H&M will adjust to the new market as sales decline and stores are being closed. The Real Real currently has brick and mortar locations in New York City and Los Angeles but please do not expect some shabby little second hand store. These stores are luxury in every sense of the word equipped with a huge wall full of Hermes Birkin Handbags in an assortment of colors, endless racks of Chanel and other fine goods dress the floor. The Real Real has changed the stigma of buying second hand providing customers with an exquisite shopping experience where they can try on a garment and purchase with a touch of a button as tablets are set up throughout the store. Need a snack and beverage while shopping? head downstairs to their beautiful cafe where the TRR culture oozes, the conversation is relaxed and friendly however the high-end luxury experience continues. We will continue to update you on the latest TRR news. Make it a destination this summer and be sure to share your Real Real experience with us.

-Keiana Armani

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