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“The sustainability of this model is going to hinge on their ability to do two key factors,” said Alex Fitzgerald, manager in the consumer and retail practice of global consultancy A.T. The company says that as buyers become consignors and vice versa, it creates a “unique flywheel that further accelerates our momentum.” Through March 31, 53% of its consignors are buyers and 13% of its buyers are consignors, according to the prospectus.

It says it employs more than 100 gemologists, horologists, brand experts and art curators and says that its authenticators are highly trained, experienced experts in their respective fields. The RealReal says it has been able to build trust among its customers. It also operates three stores – two in New York and one in Los Angeles. It also operates 11 luxury consignment offices in key cities like New York and Los Angeles. offers a “white glove” service where consignors, those who are selling their used designer goods, make an appointment with one of its luxury managers and receives a complimentary consultation at their home. Neiman Marcus says it will not be selling any preowned merchandise at its stores. As part of this deal, at select Neiman Marcus stores, customers are able to not only receive an immediate quote for their items from Fashionphile but also payments they can spend immediately on new luxury items at the store. Meanwhile, Neiman Marcus in April bought a minority stake in resale site Fashionphile. Online rival ThredUP is opening physical stores.

Poshmark, an online retailer of secondhand clothing, expanded earlier this month into home decor with items including bedding and bath.

While shoppers for years have been buying and selling used discounted designer items at thrift shops and on eBay, this latest generation of secondhand online retailers make the shopping experience easier, with new technology and services. They also are more conscious about the environment.

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The move to go public comes as online marketplaces that sell used clothing and other items are flourishing as a new generation of younger shoppers don’t want to pay full price. As of the end of March, it offered more than 620,000 unique authenticated pre-owned luxury items bearing the brands of more than 5,500 luxury and top designers.īut it hasn’t made a profit and its losses widened to nearly $76 million last year, up from $42 million in the previous year, according to its prospectus filed with the Securities and Exchange Commission. Its total revenue was $207.4 million last year, up 55% compared with 2017. The RealReal says it’s the world’s largest online marketplace for authenticated, consigned luxury goods.

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