Looking at models on the runway, you’d never think that it would be possible for you to own some of the wonderful items that they are wearing. It can be daunting when you look at price tags for such items, and you fantasize about one day owning a perfect piece. Fashion is important, it helps to drive social and cultural interactions. It is a way for people to express themselves and there is a physical degree of excitement when the perfect piece of clothing is found. The RealReal understands what it means to find the perfect piece and what it means to have unfailing brand loyalty. They have built their business model around giving people the items that they need at a price that will allow them to access them without breaking their banks. The RealReal offers a secondhand quality and luxury items at almost a 90% discount from white individuals would pay at a normal retailer. They work like any other brick-and-mortar consignment shop by taking items from sellers and providing them to buyers through an online format. They have recently opened a shop that provides the same service in Soho, but a majority of their items are sold online.
An article featured on Recode.com discusses the expansion that may be going forward with this brand of business. “The RealReal-The Fashion Site That Sells Secondhand Gucci and Louis Vuitton-Wants to Raise a New $100 Million Investment” follows some of the changes that the CEO has made in order to grow the business. When it first started, Julie Wainwright the founder did not know how big of a need there was for secondhand goods in the luxury market. She was simply trying to find a way to repurpose items and become more sustainable. When goods are reused instead of purchasing a new item, people are able to create a smaller footprint for themselves. As these business models expand, more luxury outlets are coming onto the market but none of them have seen quite as much success as The RealReal. The RealReal is an exceptional pioneer in their field and will continue to do amazing things.