The RealReal announced on Tuesday total sales for the first quarter increased 48%, on the back of strong gross merchandise value (GMV) growth, as the online luxury resale platform remained in the red for another quarter.
The RealReal announced on Wednesday that both fourth quarter and full year 2021 gross merchandise value and total revenues increased by more than 40%, despite profitability staying in the red at the luxury resale site.
The luxury resale marketplace announced on Thursday that gross merchandise value on its platform totaled approximately $146 million in November, with growth driven by shopping holidays such as Black Friday.
According to a new report from McKinsey, exploring the rapidly growing resale market not only opens a new revenue stream for luxury labels but could also have a positive effect on brand loyalty and desirability.
As the online marketplace continues to build out its authentication services, it has acquired the New York-based event organizer and sneakerhead platform’s authentication business for an undisclosed sum.