TheRealReal, Inc.

The RealReal, Inc. (NASDAQ: RREAL) operates the world's largest online marketplace for authenticated, resale luxury goods. The company's website is therealreal.com.

The RealReal provides an end-to-end service that unlocks supply of pre-owned luxury goods and creates a trusted, curated marketplace for buyers globally. The company's core business centers on connecting consignors who wish to sell their luxury items with buyers seeking authenticated pre-owned luxury goods across multiple categories including women's fashion, men's fashion, jewelry, and watches. Top-selling luxury designers on the platform include Cartier, Chanel, Christian Dior, Gucci, Hermès, Louis Vuitton, Prada, Rolex, Saint Laurent, Tiffany & Co., Van Cleef & Arpels, and Bvlgari.

The company operates through an omni-channel model combining its online marketplace with physical retail locations. The RealReal maintains neighborhood retail stores typically ranging from 1,800 to 3,500 square feet in areas with high customer concentration, as well as larger flagship stores in San Francisco, Los Angeles, and New York that span 8,000 to 10,000 square feet. As of December 31, 2025, the company employed 3,140 full-time equivalent employees, supplemented by independent contractors and temporary personnel primarily in authentication centers.

The RealReal's competitive advantages include its rigorous authentication process employing trained gemologists, horologists, and brand experts supported by proprietary artificial intelligence technology. The company leverages data from over 50 million item sales since inception to optimize pricing, merchandising, and supply sourcing. In 2025, over 80 percent of gross merchandise value came from repeat consignors, and the company served over 1 million active buyers with repeat buyers accounting for over 80 percent of gross merchandise value.

The company's business model emphasizes sustainability by promoting recirculation of luxury goods rather than waste. The RealReal executes against three strategic pillars: unlocking supply through its growth playbook, driving operational efficiency through technology and automation, and prioritizing service for both consignors and buyers. The platform generated a sell-through ratio exceeding 80 percent in 2025, with approximately 50 percent of products selling within 30 days of listing.