The Realreal Temporary Closure (2024)

FAQs

What is happening with RealReal? ›

Secondhand luxury marketplace The RealReal (NASDAQ: REAL) announced better-than-expected results in Q1 CY2024, with revenue up 1.3% year on year to $143.8 million. The company expects next quarter's revenue to be around $140 million, in line with analysts' estimates.

(iii) If an Accepted Item has not been Sold by the end of the Consignment Period, We will contact You and, at Your option and Our expense: (A) return the Accepted Item to You, in accordance with the terms of the Return Policy, or (B) re-purpose or donate the item to a charity of Our choice.

We allow you to hold items in your cart for 20 minutes so you can consider your purchase and continue shopping. We aim to allow all shoppers the chance to buy their favorite items, and because there is only one of each item on The RealReal, we cannot allow items to be held indefinitely.

We and Our service providers may use automated or manual means to deliver text messages to You if you have a U.S. phone number.

Fourth quarter 2023 Net Loss was $22 million, compared to $39 million in the fourth quarter of 2022. Fourth quarter 2023 Adjusted EBITDA was positive $1.4 million, a $22 million improvement compared to the fourth quarter of 2022. Full year 2023 Net Loss was $168 million, compared to $196 million for full year 2022.

Collaborations with respected brands demonstrate a dedication to minimizing waste and embracing circular fashion principles. Partnerships with Sustainable Brands: The RealReal has forged partnerships with renowned designers known for their commitment to ethical and sustainable practices.

Return Requests: Consignors who request to have an item returned before the end of the consignment window (365 days) will be charged $15 per item. A fee of $100 plus shipping costs will be applied to return requests for fine art and oversized items.

When you trade your items, you will receive payment upfront (within two weeks) in the form of The RealReal site credit. When you sell your items, you will receive payment upfront (within two weeks) by direct deposit.

Commissions and fees

The site imposes a staggered commission schedule, paying sellers between 20% and 85% of the sales price. In other words, to sell here, you'll pay The Real Real between 80% and 15% of your item's value simply to sell it on your behalf.

The RealReal is a luxury fashion reseller, meaning that all of the products are considered second-hand, having been owned by another consumer before arriving at The RealReal.

Who owns The RealReal? ›

The RealReal was founded in 2011 by Julie Wainwright, an e-commerce entrepreneur.

We utilize proprietary data derived from the millions of items we've authenticated to determine authenticity, demand and pricing; we have operationalized our business with AI and machine learning to automate copy writing, pricing and photo retouching to help take those tasks off our authenticators' plates so they can ...

In the filing, Chanel alleged that The RealReal sold at least seven counterfeit Chanel bags on its website, challenging The RealReal's claim that its in-house luxury experts authenticated each item as genuine Chanel products.

Because we want to deliver your items as soon as possible, we process orders in real-time during business hours. This means we are unable to cancel orders once they have entered the shipping process, which occurs within 15 minutes of placing an order during business hours.

The RealReal is the world's largest online marketplace for authenticated, resale luxury goods, with more than 36 million members. With a rigorous authentication process overseen by experts, The RealReal provides a safe and reliable platform for consumers to buy and sell their luxury items.