Wednesday, August 1, 2018

The RealReal Launches First Bricks And Mortar Store, In West Hollywood

Online luxury consignment store The RealReal is making its foray into the retail market, with its first ever bricks-and-mortar, physical store, in Los Angeles. TheRealReal said it will open up a "concept store" in Los Angeles on Melrose Avenue in West Hollywood, where it will both offer up its luxury goods and also accept consignments. The San Francisco-based startup is venture backed by such investors as PWP Growth Equity, the middle market private equity group of Perella Weinberg Partners, along with Sandbridge Capital and Great Hill Partners, and has raised $288M in total venture capital. According to TheRealReal the new retail store will both include a 12,000 foot space for women and a 5,500 square foot "men's store". The company said the store will feature 1,500 square feet of "wall-to-wall" luxury handbags, curbside consignment drop-off, a "sneakerdome" on the men's side, and even a cafe serving fresh juices, snacks, and coffee.

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