A few days after announcing the appointment of its new CEO, the Californian luxury goods resale platform has just confirmed better-than-expected performance between July and September 2024.
One man’s misfortune is another man’s gain…
While many players in the luxury goods sector are suffering, the second-hand sector is more buoyant. Witness the latest quarterly performance of The Real Real, founded in 2011 and self-proclaimed “the world’s largest online marketplace for the resale of authenticated luxury goods”, with 17 million members.
As hinted at when its new CEO, Rati Sahi Levesque, was appointed last September, California-based The RealReal exceeded forecasts for its third quarter, ended September 30, in terms of gross market value, total sales and adjusted EBITDA.
Above estimates
Sales rose by a healthy 11% year-on-year to $148 million in the third quarter, exceeding previous estimates (a range of between $135 and $142 million). Its GMVitself grew by 6% year-on-year to $433 million.
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Read also > The RealReal appoints Rati Sahi Levesque as its new CEO
Featured Photos: © The RealReal
