The RealReal expands storefronts

The RealReal has opened its fourth location as the online luxury consignment business continues to expand in the physical space.

The jewelry and watch evaluation office is a core component of The RealReal's growth and will "align with its mission of offering people a trusted, frictionless and personal way to sell their luxury goods," according to a company statement.

The locations provide free valuations by gemologists and watch experts, making it easier for consignors to post items for sale on the website.

Fine jewelry and watches are the company's fastest-growing categories, and the company says that people who consign these items make up to two times more on The RealReal than through other channels.

"In creating our valuation offices, our mission was to fill a gap that existed in the fine jewelry and watch market at the time," said The RealReal CEO and founder Julie Wainwright. "There was no easy way for consumers to get accurate and transparent pricing of their fine jewelry and watches."

This latest location is near The RealReal headquarters in San Francisco and follows other offices in Chicago, Los Angeles and New York City. The storefronts are located in upscale areas with a mix of high-income residents and luxury retail.

The company boasts nearly 4.5 million members and has raised $123 million to date for expansion. 

The RealReal is one of a growing number of retailers situated in the new sharing economy, including Rent the Runway, which is also opening stores. These formats are positioned to take advantage of the growing number of shoppers with less disposable income who trade goods rather than continue to acquire.

In July, Neiman Marcus began offering shoppers gift cards for selling used items on The RealReal.

For more:
- see this The RealReal press release
- see this TechCrunch story

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