Juie Wainwright is the CEO of the RealReal and has opened in New York. She has previous experience with companies, including winding down pets.com and has known a lot about companies. She has got a lot of funding including $123m for her venture and has gained $500 million in gross merchandise revenue– including in the luxury market. She wants to open on bricks and mortar stores in New York. Items that RealReal sells to customers have been vetted and quality checked so this ensures quality. She has raised money though venture capital and has done well in this area. She has sold $100 million in watches and fine jewellery. They have a watch expert on site and this helps with the business. They tested in Midtown and this has been a big help. She talks about her best selling items, and mentions that one is Rolex, especially for men. Chanel is a company that is big for women. She says apparel is another seller.
Dolce and Gabbana is a big seller- and Wainwright talked about this. She opened a pop-up store in New York soho, and this did well. Her consigners are her buyers. She is not currently into Venture Capital Raising. She says Dolce is an interest case and she bought for people from forty and sold to people over 50. She say most people buy two items on credit and they buy often. Her apps have done well and they have generated a lot of revenue in recent years. This is something that Wainwrigh is proud of and she has quieted the doubters. In New York, Wainright did well and has gained a lot of revenue.
She has also got plans for expanding into San Francisco and opened shops in that area. This is another sign that RealReal is getting bigger.