The RealReal, a second-hand store for luxury brands

The former chief executive of Pets.com, one of the notorious stock listings of the internet bubble, is returning to public markets with another venture. Julie Wainwright led Pets.com through its initial public offering in 2000 before the company was liquidated eight months later, a moment that presaged the end of the dotcom boom. Ms Wainwright’s next venture is The RealReal, a second-hand store for luxury brands, that will list later this year. The company links buyers hunting for cut-price Hermès scarves and Manolo Blahnik heels with sellers keen to lighten their closets. The RealReal operates an online trading platform and has nine brick-and-mortar consignment stores across seven US cities… The company yesterday filed to list its shares on Nasdaq… The RealReal last year grew total revenue 55 per cent to $207 million but chalked up a net loss of $75.8 million for the year. The company has raised $288 million in private capital since launching eight years ago, including a $115 million haul last July… The RealReal offers a contrast to the common narrative sweeping the retail sector. As the pressure from ecommerce companies such as Amazon has forced many to shut their doors, the fashion consignment group has expanded. Its latest store was unveiled this month on Madison Avenue on the Upper East Side of Manhattan…
 
Richard Henderson

 

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