Shopping over the past decade has changed drastically, from having to fight traffic and over parking spots to now most of your shopping being done online and arriving at your doorstep in two days. For the latest update in the shopping world comes The RealReal. The RealReal is a luxury consignment store you can simultaneously shop in store or online for designer brand items. This isn’t a store where you have many options for one item, you have to browse and take advantage of the item ASAP! To browse items at the RealReal, their Instagram always stays up to date about different looks and styles for your everyday outfit or to spruce up an existing wardrobe. One of my favorite photos that prompted me to sign up with my email on The RealReal was their recent post of their pointed shoes which shows five different styles of cute, designer shoes with reasonable prices. I can achieve my dream of wearing designer shoes and still being able to pay all of my bills this month! Not only does their Instagram include inspirations for daily looks, they regularly post fashion quotes with my favorite one by Meghan Markle stating, “We have a deep connection to what we wear. For me it is about supporting and empowering each other, especially as women.” This quote stood out to me for this site because as you continue to scroll down through their feed you see a variety of women embracing these beautiful designer items while embracing their fierce selves which is a rare event for women. The RealReal allows women to afford designer items to not only boost their self esteem but allowing them to express themselves. Read more about The RealReal: https://itunes.apple.com/us/app/the-realreal-buy-sell-luxury/id587618103?mt=8
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Edwin has always been a creative but driven soul that puts everything he has into any project he takes on. Throughout his younger years this served him well as he got a great education not because he went to better schools when he was young but because he worked hard to truly learn all of the material he was given understanding it would benefit his future. After high school he went to MIT for college which defiantly gave him a leg up in his career as with a degree from MIT in biologic’s he was able to get a great job with a drug maker. The drug makers that he worked for over the last thirty three years all made drugs for both animals and for humans. That meant there were a lot of drugs going through the quality assurance department and while some of the people didn’t understand them without the report Edwin did. Because no one had to explain the drug he was able to tell if the researcher was presenting it truthfully and see if the drug would be good for either the person or the animal in a long term basis.
Priding himself with his work he never allowed any drug he did not fully believe in to even go to the FDA to ask for approval. But when he did bring drugs to the FDA he always got their attention. The reason that he got the attention of the FDA isn’t just because the drugs he sent to them were good drugs but because he knew how to market well in a productive manner. By good marketing he was able to guide the drug through the FDA smoothly so that it could go to market. Over his years of experience not only did he move up and move on to other companies but he saw many safe drugs go to market.
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“Julie Wainwright, the founder and CEO of the online luxury consignment, The RealReal has been a successful, fearless leader for many years. Julie Wainwright sold luxury products such as Gucci and Louis Vuitton as a second hand seller. The RealReal has grown tremendously and it is one of the most successful online luxury consignment. The RealReal became a successful online business by sellers shipping the products to a company and the company will sell the item and shares the proceeds with the seller. Each item is inspected before shipment. Originally,the website focused primarily on women’s luxury fashion but has now branched into jewelry, menswear, watches and home decor.
Julie Wainwright came up with a strategy by launching brick-and-mortar stores. The first store will be located in New York and is currently under construction. The RealReal has invested in a risky funding, which accumulated $123 million dollars. Julie Wainwright is expected to see an increase in gross merchandise of $500 million in the nearest future. Julie Wainwright has announced that the next private financing that her company receives will be the last before an Initial Public Offering. She would like to secure a new investment in the hopes of it being viable for her company.
Everyone is trying to get a piece of the pie. In today’s world, individuals are conducting their own online e-commerce store in the hopes of making millions of dollars. The only downfall is that every websites are competitive and are selling the same products at a different price. For instance, ThredUp, which sells luxury brands at an affordable price, Poshmark sells used clothes, Ebay and Amazon. The RealReal was viewed as an enemy for many luxury brands; however, as time progresses the concept has change since the company is driving sales and traffic to the name brand.”