THE REAL REAL’S RISE: With fine jewelry and watches doubling in revenue this year, and accounting for up about 20 percent of The Real Real’s overall business, the luxury consignment Web site has hired Michael Groffenberger as senior category director of fine jewelry and watches, a new position. Prior to joining The Real Real, Groffenberger was executive vice president of Shreve, Crump & Low in Boston. Before that he was a senior executive at Tourneau.
The Real Real’s top selling brands include Van Cleef & Arpels, Cartier, Rolex and Tiffany. Diamonds, colored gem stones and solid gold jewelry are the most popular jewelry categories.
The Real Real has been growing rapidly since its launch in 2011. On Wednesday, the company opened a 129,000-square-foot warehouse in Secaucus, N.J., that will support the 40,000 units per month that The Real Real processes. The New Jersey warehouse joins facilities in San Francisco, Los Angeles and New York, bringing the company’s total warehouse space to over 225,000 square feet.
“We were bursting at the seams,” said Julie Wainwright, ceo. “The new warehouse represents an exciting growth milestone.”
The Real Real has started shipping authenticated luxury goods internationally to 16 countries, including Canada and Mexico, the United Kingdom, France, Germany, Italy and Spain, Australia, Hong Kong, Japan, Singapore and South Korea.