The RealReal, the leader in authenticated luxury consignment, has closed a $50 million growth equity financing from private equity firm Great Hill Partners, bringing the company’s total funding to $173 million.
The RealReal, the leader in authenticated luxury consignment, has closed a $50 million growth equity financing from privateequity firm Great Hill Partners, bringing the company’s total funding to $173 million. Ohana & Co. acted as exclusive financial advisor to The RealReal in this transaction.
Founded in 2011, The RealReal is the leader in authenticated luxury consignment , with 5 million buyers and consignors with 4 million items sold across all luxury categories. The company has reinvented luxury resale and has changed how people think about and consume luxury goods. The RealReal provides the largest selection of pre-owned authenticated luxury items including women’s and men’s fashion, fine jewelry & watches, and fine art & home with a certified expert inspecting every single item. Consignors earn up to 70% of the sale price and items sell quickly. In 2017 alone, The RealReal is expected to pay consignors nearly $300 million from the resale of their luxury items, the majority of which, they will spend back in the primary market, continuing the luxury lifecycle. The company operates Luxury Consignment offices in six US cities that offer free fine jewelry and watch valuations from certified gemologists, as well as white glove consignment service. The new funding will be used to continue scaling the company’s operations, category expertise, and expansion of its Luxury Consignment Offices and retail concepts.
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