Another Round Of Funding For The RealReal

The RealReal is apart of the 1.5 trillion dollar luxury industry. They do luxury consignment completely different. They are revolutionizing the industry. Though this company is a luxury resale giant, once upon a time the company was ran from the founder’s home. Julie Wainwright operated out of her home and visited her customers with a U-Haul. Today, the founder and CEO has transformed her small company into a major retailer with six hundred employees and several locations with more in the works.

The RealReal has major plans of expansion. The company wants to open more brick and mortar locations in untapped markets that have been proven to be markets because of their pop up shops that drove lots of traffic and shoppers. The company wants to create more fulfillment centers. Worldwide orders are placed daily on their website. They need larger and better equipped facilities to manage the number of orders they are fulfilling on a daily basis. So to be able to implement these new plans, the luxury reseller needed more funding.

The company’s series G funding brought in one hundred and fifteen million dollars. This brings up the balance to two hundred and eighty eight million dollars of funding the company has received. Investors are eager to invest in The RealReal due to how the market is speaking. And the market is saying that consumers enjoy quality fashion goods from luxury brands that have been used before. PWP Growth Equity led this latest round of funding. Other investors included Perella Weinberg Partners and Sandbridge Capital. Coming along with this investment is a new member to the board of directors. Chip Baird is a founder of PWP Growth Equity and the newest person on the board.

The RealReal does have competition. There are other companies fostering luxury resell in a digital atmosphere. But this company attracted investors for numerous reasons. Investors believe the founder and CEO has company that will take the industry by storm. They believe she has the ability to ultimately change the ecommerce experience for consumers. The company is in a rare position to benefit from a booming market.

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