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Gemist Raises $6M in Funding to Scale Jewelry Tech PlatformThe company is focused on modernizing the custom jewelry buying experience with e-commerce tools like product visualization and 3D styling.
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The RealReal Takes Brick-and-Mortar Uptown
The luxury consignment seller’s third physical location just opened in New York City’s Upper East Side neighborhood.
The RealReal has opened its third full-scale boutique that allows for both consigning and shopping.
New York—The RealReal has expanded its brick-and-mortar presence with a third location.
Last week the online luxury consignment seller opened a store in New York City’s Upper East Side neighborhood at 871 Madison Ave., a smaller counterpart to its downtown SoHo flagship, the company said.
Like its other New York City and West Hollywood, California boutiques, the new location features a consignment office where customers can receive complimentary valuations from The RealReal’s staff gemologists, horologists and authenticators on fine jewelry, watches, handbags and sneakers.
In total, The RealReal has 10 in-person consignment offices around the country, including the three located in its boutiques.
The focus of the new store is on consignment services, but customers can also shop a curated selection of fine jewelry, watches, women’s ready-to-wear clothing, art, and home pieces.
The store also provides a consignment drop-off service for those who don’t want to sit down with an expert, personal shopping and product viewings for high-value pieces.
CEO Julie Wainwright said in a press release: “We’re growing our presence in New York to support the strong demand we’ve seen for both shopping and consigning since opening our SoHo store a year and a half ago. This new format store bridges the gap between our luxury consignment offices and our flagships stores, bringing together an expanded assortment of expert services and a curated selection of luxury goods.”
The company said it doesn’t have large-scale plans to roll out more stores.
Head of Retail Michael Groffenberger said, “Right now we’re focused on the opening of Madison. It’s not a signal of any strategic pivot toward a greater brick-and-mortar presence, as much as meeting demand from our members as to where it suits them best.”
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