The RealReal is an e-commerce consignment company that was founded by Julie Wainwright in 2011 when she was still based in San Francisco. For almost a decade of operating, the company was able to gain a lot of networks, and its online business is growing tremendously with the help of a changing customer mindset. The RealReal has established partnerships with several luxury brands, and they keep on promoting their tag line – make well, buy well, resell. The RealReal is focusing on the secondhand market, encouraging the people who own luxury items to become consignors, and with the help of their business, these pre-owned items are sold to millions of people who are waiting in the growing secondhand luxury market.
The RealReal employs individuals who are experts in gemology, as well as luxury brand authenticators who can easily identify fakes from the authentic ones. The RealReal has been changing the economy, thanks to their unique marketing strategy and experts are projecting that the business will continually grow. The RealReal stated that they are the future of fashion, and they are doing everything to become more known, especially during the age of secondhand shopping.
One of the things that the company wanted to focus on is looking after the environment. There are many luxury brands around the world, and the industry is being involved in several controversies, including the low wages given to the workers and the non-sustainable practices that are damaging the environment. The RealReal is promoting the sale of secondhand luxury items to avoid these controversies and make luxury fashion more sustainable. Julie Wainwright felt happy knowing that a lot of people are sharing the same sentiment, and they are willing to help the company reach its goals.
Since The RealReal started operating in 2011, they were able to conserve 1.3 billion glasses of water and energy equivalent to traveling for 86.4 million miles. This is a great milestone for the company, and Julie Wainwright is happy knowing that The RealReal is truly making a difference. This positive reputation that they are building will be beneficial to the company as more people are considering to buy luxury pre-owned items from their website.
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