The RealReal hopes for IPO

In a recent interview with TechCrunch, The RealReal CEO Julie Wainwright said that she is preparing the company for an eventual IPO.

“We really aren’t in the mood to sell the business, we’re in the mood to go public at some point in the future," Wainwright told TechCrunch.

Since its launch, The RealReal has raised 173 million dollars in funding. Last month, they announced another round of funding led by private equity firm Green Hill Partners where they raised 50 million dollars.

The RealReal came to prominence as a luxury consignment e-tailer, where shoppers could buy brands ranging from Michael Kors to Hermès at sometimes up to 90 percent off of the original cost. To consign with The RealReal, items go through a thorough vetting process to ensure authenticity. After all, no one wants to earn a reputation for selling knockoff Birkin bags.

The RealReal based their business model on never purchasing items beforehand, and only taking commission when items sell. The most difficult part of that model is they have more customers than they have consignors.

With a formidable online presence, the company is daring to do what few retailers are doing nowadays: open a brick-and-mortar store. A New York store is planned for this fall, following the success of a pop-up shop last winter.