The fashion resale platform raised $168 million with its initial public offering on Thursday, achieving a valuation of around $1.3 billion. Shares began trading at $18.25 on Friday, up 30% from their listing price.
The fashion consignment marketplace announced a net loss of $43.3 million, or $0.49 per share, for the third quarter on Monday, as gains in direct revenue failed to make up for declines in consignment and services.
Resale marketplace The RealReal’s latest annual report has highlighted a shift towards high-value items during the Covid-19 pandemic, as well as other trends, including the rise of stealth luxury and luxury streetwear.
Interbrand launched its list of the 30 Breakthrough Brands for 2020 on Thursday and a number of fashion and beauty firms are included in the ranking of names that are “set to revolutionise their markets”.