Used Chanel bags seem to be listed everywhere online, but how can you guarantee that it’s not a fake? The realReal is a luxury consignment site known for selling secondhand items. The site generated over 100 million dollars in sales last year and garauntees authenticity. The company, located in San Francisco Bay, prides itself on it’s rigorous authentication process for luxury goods.
The RealReal’s authentication process is extremely detailed and each employee has a binder of specifications for thousands of luxury products. Each employee must reference the binder to ensure the item is authentic before accepting it into the warehouse. The company even holds internal contests to “Find the Fake” where they can win prizes for identifying the counterfeits.
The RealReal’s authenticity promise is one reason fro their growth, but not the only reason. Unlike most other online marketplaces, the company provides superior client care exemplified but their services to pick up the items from sellers for their convenience. A seller once left a pair of diamond earrings worth 100,000 dollars in a purse she planned to sell and the company returned them to her home without hesitation. Every item in The RealReal’s warehouse is different and they never have two of the same item at a time.
They have options for anything luxury including women’s fashion, men’s fashion, designer jewelry, home goods, and kids clothing.
The luxury business is a 1.5 trillion dollar industry. The RealReal is revolutionizing it one store at a time. The CEO Julie Wainwright started working on her kitchen table visiting consignor homes with a U-Haul, building the company our of her home on her own. Today the company employs over 600 people all across the nation and provide shipments worldwide. The company has been a huge success and has raised over 173 million dollars since its founding. By providing the option to buy secondhand luxury goods with an authenticity guarantee, The RealReal has consumed the middle market and provided better pricing for the same luxury goods.