Remember when “secondhand” meant a trip to the Salvation
Army for ugly sweater day? Or when “thrifting” (á la Macklemore) was picking up
a wacky, sort-of-dirty fur thing from Goodwill that you’d probably never wear?
The advent of the luxury resale market—or “re-commerce” or consignment or whatever you want to call it—has changed what secondhand means. In today’s economy, pre-owned goods are a booming business, and they’re on the cusp of even more explosive growth.
The resale industry hit a milestone as shares of the RealReal, a secondhand luxury retailer, started trading on Nasdaq after a blockbuster IPO. Priced at $20 a share, it jumped almost 50% in the first few minutes of trading after raising $300 million in the IPO.
Read more about the RealReal’s success online now HERE (https://qz.com/quartzy/1655316/realreal-ipo-a-milestone-for-the-luxury-resale-industry/)