5 things to know about The RealReal before its IPO:
With the secondhand retail market well on its way to becoming a $51 billion business, The RealReal, an online marketplace for consigned luxury items, has filed for an initial public offering.
The RealReal uses proprietary technology and trained experts to sell consigned luxury goods across categories ranging from women’s, men’s, kids, home and art.“Luxury goods retain value over time as a result of their enduring desirability and durability, making them particularly well-suited for resale,” the prospectus says, with The RealReal quoting data that shows the total addressable market in the U.S. for luxury goods at $198 billion.
ThredUp, another player in the secondhand business, forecasts that the resale sector will reach $51 billion by 2023, and will be larger than fast fashion in a decade. The RealReal will also use $300,000 to pay a lender under a term loan facility. Some of the proceeds may also go toward investments in technologies, products or services.And: 5 insane Amazon Prime perks you probably don’t know aboutIn addition to touting its authenticated luxury goods, The RealReal talks up the sustainable attributes of being in the secondhand business.
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