Fashion has been a stable of society since we as people figured out how to set ourselves apart from each other by style of dress. Setting the sidewalk ablaze when it comes to design means the more high end and exclusive the better. While online store have been supplying the needs of many in search of fashion, some companies have decided to break into the brick and mortar side of retail. Companies like The RealReal have set their sights on the physical store.
In the prime fashion area of Los Angles on Melrose Avenue the RealReal has opened another store giving their clients a physical place to come and shop. While bankrupt brands have left spaces all over the country, more online luxury consignment shops are popping up filling those spots. Shoppers that once searched through a store like Ross or TJMaxx will have the chance to comb through more luxury brands the same way. The RealReal already has a store in SOHO in New York which is another prime location for those hip to the fashion world. Many retailers are doing well with the industry pulling in over twenty billion in 2017. This makes the opportunities for online stores to make an investment of being more accessible in the physical sense to buyers who want their items right away.
The CEO of The RealReal Julie Wainwright has through financing secured $115 million which will allow her to open more stores and create a larger inventor. These stores are not out of the blue. The RealReal have been doing pop up shops for some time now to test the potential and reaction to more physical locations. Their new location is more than just a shop. It is a new high end experience of over 5000 square feet. It will have a café serving coffee, juice, salads and other items. It will also have services for valuations and even a gemologist.
The new experience of luxury consignment shopping turned physical offering the same as online is a scary reality for established retailers. The Fashion game may have just been shook up.