Julie Wainwright is more than just a fashion boss. She is a visionary in the fashion space. Her dream, her vision that use to be a platform of wonderful fashions that are gently used has become a one hundred million dollar empire. But her vision of what her small home business could be has allowed the rest of the world to get to know The RealReal.
The fashion lover knew four years ago the luxury space for secondhand clothing could be altered. With the right mindset in front of the right audience, fashion resell could become an incredibly lucrative market. There has always been this stigma with purchasing secondhand items. She was able to transform the narrative of secondhand shopping with her startup. The RealReal Her company has increasingly received millions in funding. With that kind of capital, the company has had the fuel to drive all the way to the top of the luxury resell market.
The founder believes the way people shop has changed over the past decade. Due to this shift, her company has been able to utilize the spending power and needs of shoppers want to buy high end items at a discounted price. The days of heading to the department store are over. Instead, these shoppers are wanting the culture of a Macy’s or Saks Fifth Avenue in a digital form on their smartphone. The value of gently used luxury goods has exploded. The big department stores have noticed as they offer gift cards to luxury consignment sites. But Julie Wainwright saw the vision many years ago and has been able to create a digital environment that welcomes the evolution of the spending habits of shoppers.
Julie Wainwright knew her company had to have one distinctive factor to give it a competitive edge. Her brand was able to launch as the authority on authentication in deciphering between authentic luxury goods and knock offs. The “no fake” policy designed by the fashion company has caught the attention of shoppers who enjoy buying authentic labels. Having an inventory of authentic products is the stimulus to their growth.