The RealReal has approximately a decade in the fashion industry. They promoted a model where they make, buy, and resell luxury brands to create a positive effect on their consumers. The RealReal gives a clue of what is to be expected in the fashion industry years to come. It welcomes all companies in the fashion sector with a new and improved circular economy. The online platform is changing the game slowly according to The New York Times, Forbes, Netflix, and Fortune.
ThredUp’s research shows that individuals are nowadays considering the resale value of their clothing when they purchase. The RealReal was started in 2011 by Julie Wainwright with the aim of improving the resale value of luxury products. The company now has two storefronts in Los Angeles and New York and other nine drop-off points around the United States of America.
The online store deals with products from Louis Vuitton, Rolex, Gucci, Chanel, Stella McCartney, and Alexander McQueen. Reports by ThreadUp shows that in ten years, the secondhand model acquisition model will be the trend. The online shop is planning on extending its operations by including luxury artwork and home furnishings. The RealReal is making a significant impact since they are aiming at meeting the customers’ taste and preferences in the highly competitive market.
According to a study done in 2018, it shows that the fashion industry is one of the globe’s top polluting sectors. The RealReal team has taken caution to this and are trying to empower a circular economy and encouraging for the use of quality items for the longest period possible. The RealReal is making it easy for the buyers and sellers to consume. The online store has a no-fake policy which has played a vital role in its growth.
Retailers like Neiman Marcus and Saks Fifth Avenue have embraced the shift model to secondhand products and acquired consignments through offering The RealReal with gift cards. The RealReal has impacted the way in which people shop. Julie Wainwright appreciates his team of gemologists and horologists who ensure they are selling the right thing. The RealReal is committed to bringing the ultimate luxury experience to their consumers and to the business in general.
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