The fashion and consumer retail industry is a very dynamic and challenging industry to enter. While many new businesses and brands can struggle to enter the space and gain market share, there are some businesses that are more successful than others and are able to gain attention for industry experts and consumers from an early stage. One retailer that has continued to be very successful ever since it was launced is The RealReal.
The RealReal is a retailer that was founded just seven years ago and has already developed into one of the top retailers in the fashion industry. The company, which is based out of San Francisco, focuses solely in the high-fashion and luxury market. The company has done very well with sales and has already raised a lot of capital that will help it continue to grow in the future.
While the company has grown well since it was first launched, it recently raised another $50 million in capital that will help to fuel growth even more in the future. The most recent $50 million in funding will bring the total funding for the company up to $175 million.
The RealReal will likely use the capital to further fund its expansion efforts. Today, the company has more than 800 employees that are based out of offices in San Francisco, New York, Chicago, and other major markets. Having offices spread into these major markets is a huge advantage for the company. With these locations, the company is now able to meet with suppliers and customers on a daily basis as opposed to conducting business over of the phone or online.
Thus far, The RealReal has focused the vast majority of its business online. However, that could be changing. Due to the growing brand of The RealReal, there is a chance that they could expand into traditional brick and mortar stores as well. While this could be a good option for The RealReal, the company is continuing to evaluate the strategy. The main decisions to be made include the size of the store, which markets to open into, and how it should be managed.
Learn more about The RealReal: https://www.youtube.com/channel/UCjD1O1piK6HoiZ-70sfkHpg