The RealReal goes public

US-based online luxury consignment retailer The RealReal is to begin trading on the Nasdaq stock market on Friday 28 June.

The IPO netted $300m for the company, which announced a listing of $20 per share.

“Going public now paves the way for our next leg of growth. Our initial public offering will provide access to capital, elevate The RealReal brand to drive further business to our marketplace and demand continued discipline from our management team to execute optimally,” said ceo Julie Wainwright in a letter to shareholders.

The RealReal was founded in 2011. Claiming to be “the world’s largest online marketplace for authenticated, consigned luxury goods”, it processed a gross merchandise volume of some $711m in 2018. The site’s top brands by resale value include Gucci, Chanel and Louis Vuitton.