NEW YORK — The RealReal, the leader in the resale shopping space, is looking to enhance the mobile and personalization experience for users — and the company intends to use the $14 million it’s just secured in Series B funding to do so.
According to The RealReal chief executive officer Julie Wainwright, the almost two-year-old site has raised $22.5 million to date. Venture capital firm InterWest Partners led this round with $8 million, and additional capital came from Suzy Welch, Sukhinder Singh Cassidy, Novel TMT Ventures and Panarea Capital; the latter two are also investors in luxury e-commerce site Moda Operandi. The Series A investors that raised a total of $7.5 million — comprised of Canaan Partners, E.ventures and Greycroft Partners — participated in the Series B round on a pro rata basis, too. RELATED STORY: Consignment Web Sites See Growing Audience >>
“We’re in the process of hiring more people in technology. We are really focusing on building our mobile and our Web site technology. We’re also going to add more people in the New York metro and Eastern Seaboard [areas] for merchandise managers. Those are the two biggest uses of capital,” Wainwright told WWD.
The company last month introduced its first mobile shopping app (a mobile consignment app has been in place since September 2012) and saw a relaunch at therealreal.com. But for the site, which has more 800,000 members and sees over 1.5 million unique visitors a month, creating a more personalized experience is one of the first things Wainwright wants to deliver to consumers. She predicted that the site will be able to make product suggestions based on intelligent recommendations that don’t require the user to fill out forms and users will have their own personalized sales in the near future. An enhanced mobile app will also send out relevant notifications.
“Azzedine has been one of the biggest influences in my life. He has always been such a strong, loving, fatherly figure to me. I call him Papa. His designs are indescribably unique, they are pieces of art. He knew how to make the female form look its loveliest. I have so many memories of him; my favorite might be during my first show with him in Paris. He liked me and he wanted to help me get more work. He called all his friends at Kenzo and Comme des Garcons, and asked them to book me. They said, ‘But she can’t walk!’ And he said, ‘but she has such a great ass!' His friendship and support has been the great privilege of my career. I can't imagine life without him. Repose en paix mon Papa.” - @stephanieseymour tells @wwd. #wwdfashion (📷: @steveeichner) #alaia #azzedinealaia
Azzedine Alaïa, flanked by two of his closest friends, models Stephanie Seymour and Naomi Campbell.
He designed Seymour’s dress for her 1995 wedding to Peter Brant, and treated Campbell (who famously called him Papa), like a daughter. For more on the legendary designer, tap the link in bio. #wwdfashion #alaia #azzedinealaia
Azzedine Alaïa's “I-did-it-my-way” ethos stood out starkly at a time when brands are experimenting with consumer-facing fashion shows, coed formats and trans-seasonal collections – anything to perk up lackluster sales of ready-to-wear in an age of Insta-everything. “It’s not creation anymore. This becomes a purely industrial approach,” the late designer told WWD in an interview last year. “But anyway, the rhythm of collections is so stupid. It’s unsustainable. There are too many collections.” Read more about the iconic designer’s life and work on wwd.com, link in bio. #wwdfashion #azzedinealaia (📷: @WWD Archive, 1986) #alaia
Sneaker reselling app @goat’s latest exhibit, "The Greatest: New York," tells the story of New York's sneaker culture. To celebrate the exhibit, an intimate crowd gathered on Thursday night at the pop-up gallery space, located at Platform in Culver City, to hear guest speaker and illustrator @esymai talk about her own rise in streetwear and women in the business. "For me I'm just someone who is creative. I like to create things," said Chang. #wwdfashion
Azzedine Alaïa, one of the most iconic couturiers of the modern era whose body-con designs defined Eighties fashion, has died in Paris. The diminutive Tunisian-born designer, known for his structured knitted dresses with fitted waists and impeccably cut, figure-hugging second skin silhouettes was deeply admired by his peers, and counted supermodel Naomi Campbell - his adoptive daughter - among his inner circle, one of a gang of glamazons including Farida Khelfa, Carla Bruni and Stephanie Seymour who became ambassadors of his style. (📷: Alexandre Guirkinger) #wwdblast