The RealReal, online luxury consignment store, will continue opening more pop-up shops in the latter half of the year. Since 2016, the company has opened two brick-and-mortar stores.
Since it launched in 2011, The RealReal has gained 7 million members internationally. Making it the world’s #1 high-end consignment online store. The company has consignment offices in 7 cities that offer fine jewelry and watch valuations from certified gemologists for free.
Their site features authenticated, luxury resale items, including high quality apparel, fine jewelry, furniture, and home decor. Most of The RealReal’s shoppers are women. The bestselling brands are Chanel, Hermes and Louis Vuitton. The men mostly buy Rolex watches and leather goods.
In 2016, the company opened its first ever pop-up store in New York City. The store ran from December 1 through December 15 and made $2 million. Now The RealReal have a permanent flagship store in Soho, NY. Since the store is doing so well, The RealReal want to test new markets with more pop-ups throughout the year.
The company’s second brick-and-mortar store experience was in the beginning of November, when they opened a pop-up boutique in San Francisco. The Bay Area pop-up was opened for two months.
“These shops help to build awareness in new markets that lives on when the pop-up is gone,” said Allison Sommer, The RealReal’s director of marketing.
The RealReal recently announced the opening of a Las Vegas pop-up shop. The store is located at 3500 S Las Vegas Boulevard at Caesars Palace. The shop will remain open until April 15.
“After seeing the success and adoption in San Francisco and New York, we’re excited to bring our pop-up concept to different markets across the country, starting with Las Vegas,” said Julie Wainwright, the company’s CEO and Founder. “We’ve created a unique, omnichannel business and our brick-and-mortar experience really brings our brand to life. It allows people to interact with our experts and get the personalized service they are looking for.”
Even before the opening of the company’s first physical location, The RealReal collected $50 million in growth equity funding. The company puts the funding towards increasing its retail footprint.