The Realreal Temporary Closure (2024)

1. The RealReal will lay off 230 employees, close stores - The Current

  • Missing: temporary | Show results with:temporary

  • The resale platform has struggled with profitability.

2. THE REALREAL - AUSTIN - CLOSED - Updated August 2024 - Yelp

  • 21 reviews and 46 photos of THE REALREAL - AUSTIN - CLOSED "Years ago I had a job for which I had to dress up somewhat, which led me to haunt Neiman Marcus ...

  • Write a review

3. The RealReal CFO to step down - Retail Dive

4. Can The RealReal's aggressive cost-cutting help it reach profitability?

  • Feb 22, 2023 · A rep from The RealReal said the recent layoffs and store closures are meant to help bring the company closer to profitability but declined to ...

  • Resale company The RealReal has been in a rough spot. Last July, it announced an accelerate plan to reach profitability — which it has yet to achieve in its 12 years of existence, including in the four years since going public. Last week, in a cost-cutting effort, the company announced plans to cut 230 jobs, close four stores including two flagships and reduce its office space.

5. The RealReal Sharpens Resale Focus but Still Reports Loss

  • May 11, 2023 · The RealReal reduced its workforce by 7% and closed two flagship stores, two neighborhood stores, and two luxury consignment offices to ...

  • It was once said, “The RealReal is a total mess and I can’t quit it.” That said, keeping up with the company’s progression has been an engrossing tale to

6. In another step toward profitability, The RealReal winds down beauty ...

  • Mar 24, 2023 · As part of its effort to focus on its consignment business, The RealReal is winding down its beauty sales, a company spokesperson confirmed ...

  • Under a new CEO, the luxury resale site has been scrutinizing various aspects of its business and slashing expenses.

7. After founder's exit, The RealReal appoints CEO to lead turnaround

  • Jan 26, 2023 · Wainwright's departure came a few months after The RealReal — which went public in 2019 — revealed that its losses had widened to $236 million ...

  • The resale platform has found a new CEO, seven months after founder Julie Wainwright left the role. The focus now is on making its business model profitable.

8. THE REALREAL - 3073 Peachtree St, Atlanta, Georgia - Yelp

  • 15 reviews and 13 photos of THE REALREAL - ATLANTA - CLOSED "So it's been a month, I filled out the paperwork requested, sent it back.

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9. Luxury Brands Can't Ignore Fashion Reseller The RealReal Anymore

  • Aug 23, 2018 · One store is located in New York City's SoHo neighborhood and another just opened on Los Angeles' Melrose Avenue close to the Nordstrom Local ...

  • Long dismissed as an upstart of little consequence by the luxury establishment, The RealReal is proving it is on to something big. Gently used luxury fashion is a real trend and The RealReal has discovered the secret sauce.

10. The RealReal opens a permanent store in NYC - Circle Visual Inc.

  • Nov 17, 2017 · Opening in New York on Friday (November 10th), the shop will feature over 400 new pieces every day, as well as valuation services, drinks and ...

  • The RealReal opens a permanent store in NYC and Circe Visual was on point to create custom displays for their jewelry and accessories.  Check out the new store in Soho.

11. The RealReal expects 15% rise in Q1 GMV, announces job cuts and ...

  • Having already temporarily closed its stores and consignment offices and suspended in-person consignment appointments due to the pandemic, the company ...

  • The online marketplace announced its preliminary Q1 results on Tuesday, reporting an expected rise of 15% in GMV and revealing measures being implemented to deal with the effects of the ongoing Covid-19 crisis.

The Realreal Temporary Closure (2024)

FAQs

What is happening with RealReal? ›

Secondhand luxury marketplace The RealReal (NASDAQ: REAL) announced better-than-expected results in Q2 CY2024, with revenue up 10.8% year on year to $144.9 million. On the other hand, next quarter's revenue guidance of $138.5 million was less impressive, coming in 3.6% below analysts' estimates.

Is The RealReal struggling? ›

Like many of its competitors in the luxury online consignment sector, the California-based market leader has been struggling since 2020. To help make ends meet, The RealReal has put part of its Los Angeles offices up for sale.

What happens if your item doesn't sell on The RealReal? ›

(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.

How long can you hold on real real? ›

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.

Who is the owner of The RealReal? ›

Rati joined The RealReal Founder Julie Wainwright in 2011 as the company's first employee and a catalyst to bringing Julie's vision of a new way to buy and sell consigned luxury goods to life.

Is The RealReal ethical? ›

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.

Is The RealReal making money? ›

The RealReal Inc.'s focus on consignment — and the bottom line — started to pay off for the resale pioneer in the fourth quarter. The company hit a long-promised milestone with adjusted earnings before interest, taxes, depreciation and amortization of $1.4 million million in the quarter.

What are the analyst ratings for RealReal? ›

Analyst Ratings RealReal Inc.
3 Months AgoCurrent
Hold66
Underweight00
Sell00
ConsensusHoldHold
2 more rows

Should I invest in The RealReal? ›

REAL Stock Forecast FAQ

RealReal has 29.86% upside potential, based on the analysts' average price target. Is REAL a Buy, Sell or Hold? RealReal has a consensus rating of Moderate Buy which is based on 3 buy ratings, 3 hold ratings and 0 sell ratings.

Can I request my items back from RealReal? ›

To return eligible items, you must request a return within 14 days of in-store purchase or original shipment date, and return the item(s) within 21 days of in-store purchase or original shipment date. Items received after 21 days may be eligible for consignment (excluding beauty).

How much does The RealReal pay for bags? ›

With an industry-leading consignment rate, you can receive up to 85% of the sale price when your bag is sold.

Does The RealReal pay you upfront? ›

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.

Why is RealReal down? ›

Shares of secondhand luxury marketplace The RealReal (NASDAQ: REAL) fell 21% in the morning session after the company reported second-quarter earnings results. Revenue guidance for the next quarter missed analysts' estimates, and the full-year guidance was dropped. In addition, the company continued to burn cash.

Is the real real used items? ›

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.

How does the RealReal verify authenticity? ›

We employ over one hundred experts and brand authenticators, including gemologists and horologists, who inspect thousands of items each day; they know the way a brand tag should feel, how the leather should smell, the difference in the brands' shades of colors, the use of monograms and more.

Is The RealReal a profitable company? ›

And of course, it reached profitability, posting adjusted EBITDA of $1.4 million in the fourth quarter of 2023, compared to $20.2 million in EBITDA loss in the same period in 2022. The company is “on track to deliver a breakeven adjusted EBITDA year in 2024,” Koryl told analysts last month.

Does The RealReal pay well? ›

How much does The RealReal in the United States pay? Average The RealReal hourly pay ranges from approximately $15.00 per hour for Cherry Picker to $26.46 per hour for Inventory Associate.

What are the best luxury resale sites? ›

Top 7 luxury resale platforms delivery genuine and trustworthy products
  • The RealReal. ...
  • ThredUp. ...
  • Vestiaire Collective. ...
  • Poshmark. ...
  • Farfetch. ...
  • Yoox Net-a-Porter. ...
  • Rebag.
Jun 17, 2024

Do you have to pay taxes on The RealReal? ›

Purchases may be subject to sales, use, excise and other tax in some jurisdictions. It is the buyer's responsibility to ascertain and pay all taxes due. Buyers claiming exemption from sales tax must have the appropriate documentation on file with The RealReal prior to the release of the property.

References

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