Julie Wainwright is the Chief Executive Officer (CEO) of The RealReal company. For many years, Julie Wainwright has said her company, The RealReal would be closing its door to the private financial sector. The RealReal will be conducting only Initial Public Offering (IPO) and would get a new investment.
The founder of the elegant fashion site, Julie Wainwright, is focused on brand name clothes such as Louis Vuitton and Gucci that are second-hand. According to Julie Wainwright, they are trying to get investors to raise 100 million dollars in the financing of the company from many sources. Seven years ago, since they began raising money, over 170 million dollars have been raised by The RealReal.
There may be a few reasons why The RealReal is concentraiting it conduction efforts to raise funds. The company, The RealReal, may not have reached the level that would draw the attention of appropriator and financial backers. The other reason for the effort to raise such huge amount of money, maybe that The RealReal may need to prove that it is worth investing in, as a long-term business.
Those investors that are associated with The RealReal may have come to the realization that the secondhand merchandise for luxury products is a greater opportunity than they originally thought. They may be self-assured that the site can acquire more share in the market by investing in higher expansion.
The RealReal originally focused on luxury items for women and expanded into decorations for the home, watches, clothing for men, and art. Sellers can sell and ship their products to The RealReal on consignment. When the items sell, the seller gets 60 percent of the sale and The RealReal gets 50 percent. To protect against selling items that are knock-offs, The RealReal has a team of employees that checks the authenticity of the products.
According to Julie Wainwright, The RealReal does not get the number of products they would like when it comes to the men’s department. The men make up twenty percent of those who shop at The RealReal. Customers are purchasing mainly goods made from leather, watches, and clothing items.