The RealReal news and archive

The RealReal to wind down beauty business amid streamlining efforts

The RealReal is winding down its beauty business to focus on its luxury consignment business amid an ongoing streamlining at the US resale giant. “We’re prioritizing our efforts on growing our luxury consignment business,” a spokesperson told WWD. “With that, we have been deemphasizing the direct side of our business, including our beauty...

Business

The RealReal to cut 7 percent of workforce

Luxury resale platform The RealReal is set to cut 7 percent of its staff in a bid to slash costs across the business. The move will impact around 230 employees at the company, a filing with the Securities and Exchange Commission stated. It comes as a U-turn to the firm’s previous strategy of bulking up its staff, a move it initiated last year in...

Management

The RealReal names John Koryl CEO

Resale marketplace The RealReal has announced that John Koryl will be joining the company as chief executive officer and a member of its board of directors, effective February 6, 2023. Koryl will succeed the company’s current co-interim CEOs, Rati Sahi Levesque and Robert Julian, who will remain at The RealReal as president and chief operating...

Business

Vintage luxury and trendy designs lead the way at The RealReal

Resale marketplace The RealReal unveiled its latest Luxury Consignment Report for 2023, in which it has outlined its analysis for the state of resale over the last six months. Much of the report was dictated by the shifts in shopping behaviours due to macroeconomic uncertainty, demand for sustainability and generational differences. Speaking on...

Business

The RealReal outlines initiatives to strengthen consignment service

Luxury resale marketplace The RealReal has outlined a number of updates it will be implementing in the coming year in order to elevate its consignment service. The various additions and moves were part of projects started in Q4 2022, the company said, including its new consignor concierge service. In a release, Rati Sahi Levesque, co-CEO and...

Business

Resale platforms join in cutting Yeezy products amid backlash over Ye’s hate speech

A number of major resale platforms have joined in the growing backlash against Ye, the rapper formerly known as Kanye West, following his regular bouts of hate speech and controversial behaviour. The RealReal is among those that have denounced the rapper’s remarks against the Black and Jewish communities, with the platform stating it would no...

Business

Jimmy Choo to offer resale via The RealReal partnership

Luxury accessories brand Jimmy Choo will be stepping into the resale market through a partnership with consignment marketplace, The RealReal. From October 6, clients of the British brand will be able to consign their pre-loved luxury pieces through the platform. The ‘circular partnership’ will require interested consignors to meet The RealReal’s...

Business

The RealReal says Gen Z visits are up but Millennials are still top resale consumer

Resale marketplace The RealReal has published its latest 2022 Luxury Resale Report, outlining data collected from its 28 million plus members. According to the platform, consumer behaviour has seen a sharp shift in the past year when engaging with resale, with a number of demographics becoming increasingly more mindful about where they shop. “In...

Business

The RealReal calls on US congress to implement circularity practices

Luxury resale platform The RealReal has called on the US congress to consider circularity in its mission of tackling the climate crisis. The platform hosted a Congressional briefing, entitled ‘Fashion and the Environment – How to Achieve a Circular Future’, through which it directed speeches towards House and Senate staff. In his opening...

BusinessFeatured

ThredUp, Rent the Runway and The RealReal among founders of ACT policy group

Image: ThredUp A group focused on advancing sustainable textile policies has been launched in the US, founded by 11 big names from the circular fashion industry. The American Circular Textiles (ACT) policy group, which was spearheaded by the Circular Services Group (CSG) and Resource Recycling Systems (RRS), is aiming to bring together fashion’s...

ManagementFeatured

The RealReal founder Julie Wainwright steps down as CEO and chair

Luxury resale platform The RealReal has announced its founder Julie Wainwright has decided to step down from her role as CEO and chair after 11 years at the company’s helm. She said in a statement: “I am deeply proud of the company we have built and am honored to have worked with a team that champions our founding vision of creating a more...

Fashion

The RealReal drops third edition of ReCollection

Luxury consignment marketplace The RealReal has revealed the third edition of its in-house upcycled collection, ReCollection 03. The new line, which draws influence from the current nostalgia-based Y2K trend, utilises designer pieces that can no longer be worn in the condition they are in, repurposing them to create 80 one-of-a-kind garments. To...