The RealReal, industry leader in authenticated luxury consignment, is branching into the beauty world. The company is known for their environmentally friendly clothing stance and primarily operates online, with physical stores located in both SoHo, New York and Las Vegas. Sources indicate that the beauty products are available for purchase both on The RealReal online store as well as the two brick-and-mortar locations. In fact, the company has made the beauty products available in store at their SoHo location since the holidays.
Although The RealReal has made a name for themselves as being a second-hand company, they will understandably not be extending this characteristic to their beauty venture. All available products will be brand new and will be in-keeping with the luxury, designer branding that they have become known for. Consumers can expect to see such high-end brands as Pai Skincare, Ellis Brooklyn, Uma Oils, and Cap Beauty to name just a few. These beauty products are being sold directly to The RealReal, as opposed to via third-party vendor.
The RealReal is following in the recent footsteps of other apparel retailers who have begun selling beauty products in an effort to appeal to Millennial shoppers. Anthropologie, Free People, Madewell, and most notably, Forever 21, have all begun beauty initiatives to customers. Forever 21 has branded their beauty line as Riley Rose, opening eight physical stores. It is believed that companies are beginning to test the beauty waters in an effort to bring more online customers into physical stores as well as solidify their image to consumers. As The RealReal is more internet-based, it is believed their aim is to cement their luxury image into the minds of consumers.
Julie Wainwright, chief executive officer and founder of The RealReal has indicated that beauty brands are reaching out to their company hoping to sell their products at the Las Vegas and SoHo locations. In an effort to stay consistent with their special consignment pricing customers have grown to expect, they are planning to have space for special beauty sales as well.