The announcement coincided with its full-year results, with growth driven by its jewelry brands.
The RealReal Banks $115M in Funding
The luxury consignment retailer says it will use the investment to expand its brick-and-mortar presence.
San Francisco—The RealReal announced this week that it has closed its latest round of financing, to the cool tone of $115 million.
The Series G round was led by Perella Weinberg Partners’ private equity group, PWP Growth Equity, along with Great Hill Partners, an existing investor, and Sandbridge Capital, a new party.
PWP Co-Founder and Partner Chip Baird will join The RealReal’s board of directors as part of the deal.
“This new round of funding will allow us to expand our brick-and-mortar footprint into new markets, as well as support our growing supply of luxury goods with new e-commerce fulfillment centers,” said The RealReal CEO and Founder Julie Wainwright. “Over the last seven years, we have re-envisioned the experience of buying and selling luxury goods and become a leader in the circular economy for luxury goods.”
Wainwright started The RealReal in 2011 as an online-only designer consignment business. Today the company has eight “luxury consignment offices” in major cities around the country where consigners can receive free valuations and drop off their goods.
Last year, the company took the plunge and embraced omnichannel fully, opening their first store in New York City’s SoHo neighborhood where customers could shop and consign.
This latest round of funding brings the company’s grand total to $288 million in equity capital.
Baird remarked, “Julie and her team have created an industry-leading company that is redefining the consignment marketplace and how consumers acquire luxury goods. With a continued move towards e-commerce and the rise of second-hand good purchases, The RealReal is uniquely positioned to benefit from these shifting trends. We are excited to partner with the company as they work to bring their innovative marketplace to even more consumers and consignors.”
The Latest
Looking ahead, the retailer said it sees “enormous potential” in Roberto Coin’s ability to boost its branded jewelry business.
Jewelry trade show veterans share strategies for engaging buyers, managing your time effectively, and packing the right shoes.
Despite the rising prices, consumers continue to seek out the precious metal.
This little guy’s name is Ricky and he just sold for more than $200,000 at Sotheby’s Geneva jewelry auction.
Though its website has been down for a week, Christie’s proceeded with its jewelry and watch auctions on May 13-14, bringing in nearly $80 million.
Despite the absence of “The Allnatt,” Sotheby’s Geneva jewelry auction totaled $34 million, with 90 percent of lots sold.
Tradeshow risks are real. Get tips to protect yourself before, during and after and gain safety and security awareness for your business.
Lilian Raji gives advice to designers on how to make the most of great publicity opportunities.
The mining company wants to divest its 70 percent holding in the Mothae Diamond Mine in an effort to streamline its portfolio.
Why do so many jewelers keep lines that are not selling? Peter Smith thinks the answer lies in these two behavioral principles.
The “Argyle Phoenix” sold for more than $4 million at the auction house’s second jewels sale.
The annual list recognizes young professionals making an impact in jewelry retail.
Owner David Mann is heading into retirement.
While overall sales were sluggish, the retailer said its non-bridal fine jewelry was a popular choice for Valentine’s Day.
The mining giant also wants to offload its platinum business as part of an overhaul designed to “unlock significant value.”
Christie's is selling one of the diamonds, moving forward with its Geneva jewelry auction despite the cyberattack that took down its website.
Retailers can customize and print the appraisal brochures from their store.
The move follows a price-drop test run in Q4 and comes with the addition of a “quality assurance card” from GIA for some loose diamonds.
The site has been down since Thursday evening, just ahead of its spring auctions.
The late former U.S. Secretary’s collection went for quadruple the sale’s pre-sale estimate.
Three fifth graders’ winning designs were turned into custom jewelry pieces in time for Mother’s Day.
Kimberly Adams Russell is taking over the role from her father, David Adams, marking the third generation to hold the title.
As a token of womanhood, this necklace depicts when Venus was born from the sea.
Show your mother some love with a piece of fine jewelry.
The company’s Easton location will remain open.
Brian D. Fleming of Carla Corporation was elected to serve a one-year term in the role.