We visited The RealReal in advance of its IPO and saw why its leading the luxury resale market
The RealReal currently has ten brick-and-mortar locations across the U.S. in Los Angeles, Miami, San Francisco, Chicago, Dallas, and New York City.
The brightly lit, two-story location is immaculately organized by size and style. The first floor is dedicated to womenswear and accessories such as handbags and watches.
As we walked in, we found specially curated sections dedicated to highly coveted brands like Chanel.
On a nearby table we spotted even more Chanel.
However, the luxury brand isn't thrilled about its prominence within the reseller — Chanel is suing The RealReal, "alleging the marketplace sells counterfeit products and that only Chanel can authenticate its goods."
Source: The Wall Street Journal
The company also sells luxury home goods, which we saw scattered around the store.
As we walked toward the back of the first floor, we found the women's shoe shop.
The shoes were in near-mint condition, and boasted labels like Prada and Fendi.
There are iPads for shoppers to browse additional items online.
Next, we stopped by the watch and jewelry area. The RealReal has an impressive selection of luxury watches. The company works with a team of more than 100 brand authenticators, horologists, and gemologists.
Source: The RealReal
It also has a robust assortment of fine jewelry.
The back wall is devoted to handbags. The RealReal is known for its expansive selection of some of the most expensive bags in the world, including the Birkin bag.
The Hermes Birkin bag was once "the rarest handbag in the world." Now shoppers can browse hundreds of Birkin bags online, with select styles like a crocodile skin tote with gold detail commanding price tags as high as nearly $40,000.
Source: The New York Times
Part of The RealReal's draw is a model based on the circular economy mission of reuse, reuse, recycle. Near the fitting rooms, we saw this sign highlighting its sustainability efforts.
The company recently began partnering with sustainable fashion designers like Stella McCartney.
The fittings rooms were particularly spacious and clean.
Next, we went downstairs to visit the men's department, also home to the consignment offices, cafe, and outdoor garden.
The men's section featured popular items like this Louis Vuitton luggage, as well as unique finds like a 32-piece Renzo Romagnoli, available for a whopping $995.
We also found apparel like this Saint Laurent leather jacket, on sale for a cool $2,236.
Down from $2,785!
The lower level is also home to the luxury consignment office, where sellers can book appointments with RealReal staffers to authenticate their products and get them on the market.
Interested sellers can also request in-home pickup or ask for a free label to ship their items directly to The RealReal.
Sellers earn up to 85% of the selling price of the items. Here, RealReal employees apprise and evaluate merchandise.
The Soho location recently opened a cafe, which sells an assortment of beverages and snacks.
We decided to give the oat milk latte a try and relax in The RealReal's outdoor garden.
Despite selling pricey luxury items, the latte was surprisingly less than $5 — a rarity in New York City.
In the middle of the garden is a tree originally planted by John Lennon and Yoko Ono in 1971 when they lived in the building.
With The RealReal leading the way, resale companies will continue to expand and grow, catering to growing consumer demand for pre-worn luxury.
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