Retail Consignment Is The Best Option
I’ve seen online especially Instagram how so many fashion bloggers resort to selling their items but they have no place to start. When you are a blogger especially a style blogger you tend to purchase your own items as well as even receive gifted items or required items via a sponsored post. You either grow out of them or the season ends so you need a place to put new items. Consignment ya’ll. That is all I have to say.
Retail Consignment Is The Best Option
Selling pre-owned luxury items are becoming popular in the United States, thanks to the business structure initiated by The RealReal, a pre-owned luxury retail business established by Julie Wainwright. The founder of the company stated that she has always wondered if a pre-owned luxury retail business would work out, especially in the United States where so many wanted to get their hands on these items. She checked the internet and found out that a lot of people are trying to buy pre-owned luxury items online, without the guarantee that what they are buying is authentic. An idea was born, and in 2011, Julie Wainwright established the largest pre-owned luxury retail firm in the country. Talk about women empowerment.
At first, she felt the challenges in managing a business that sells pre-owned luxury items. She had to work with a few customers and consignors, checking out every aspect of the business, until she had the hang of it and knew what kind of approach she should perform. Slowly, the market targeted by the company grew, and more people heard about their services and volunteered to sell their luxury items. Today, the company serves millions of people around the world, and they are partnering with tens of thousands of consignors who wanted to sell their pre-owned luxury items to the company. All of the luxury pre-owned items being sold to the company are taken to their warehouses, with the one in Brisbane, California being the largest.
The RealReal: Reinventing the Pre-Owned Retail Industry
Today, The RealReal is able to upload 2,000 to 4,000 items on their website daily, and most of it is being purchased from 24 to 72 hours. The company also invested in hiring experts who have the knowledge to check if the item is authentic or not.
Through their skills, the company is able to transform into a more reputable company that is known for selling authentic products. People who have been looking for authentic products like Gucci, Versace, and Dolce & Gabbana are satisfied with the items being sold by the company, because of its lower price. 20% to 30% of items sold within the company’s website also comes with a tag that proves its authenticity.
Despite the positive image that the company established through the years, Julie Wainwright admitted that she still has to face different challenges along the way. One of the most recent issues surrounding the company would be the lawsuit that was filed against them by Chanel. The luxury brand accused the pre-owned luxury retail firm of selling fake items and stated that they are not authorized to sell Chanel products. However, Julie Wainwright dismissed the claims from Chanel, stating that their products are 100% authentic and there are no fake items being sold at the store. The public sympathized with Julie Wainwright and her company, thinking that Chanel is doing everything to prevent the people who earn less to own a luxury item bearing their brand name.
Despite the controversy, the RealReal continues to become a profitable company. Julie Wainwright encourages the public to sign up a partnership contract with them to become an exclusive consignor and enjoy the benefits of being one. Those who are collecting luxury brands like Michael Kors, Prada, and Gucci have three options on how they could become one of the company’s consignors. The first one is to meet up with one of the company’s staff and they are the ones who will be putting a value to the luxurious item that is being sold. The next one is to ask for a consignor’s kit that will be sent to the address stated on the application. The last option is signing up an online contract and receiving the kit later on.
To start you can receive a $25 website credit when purchasing.
*compensation was provided in publishing this post*