Long dismissed as an opportunistic upstart of little consequence by the luxury establishment, The RealReal is proving it is on to something big. Gently used luxury fashion is a real trend and The RealReal has discovered the secret sauce: become a trusted and authoritative partner for luxury-fashion consigners and buyers, many of who are the same person.
The resale market for fashion is particularly hot. Thredup, an online reseller of mass-fashion brands as distinguished from The RealReal in luxury, predicts the total resale retail market to reach $41 billion in 2022. Further the latest Census report on the retail market identifies used-merchandise stores among the fastest-growing sectors this year, up 7.6% through the first half of 2018 following an 11.6% gain last year. And that number doesn’t even include online sellers like Thredup and The RealReal.
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