AllAnalyst Report
logoMorningstarSeptember 16, 2024

The RealReal, Inc.: Profit Progress Encourages, May Come at the Expense of Long-Term Market Share for The RealReal

Symbols
REAL
Sector(s)
Consumer Cyclical
Rating
Current Price
$2.99
Fair Value
Economic Moat
Stewardship
Summary

The RealReal is the largest pure-play luxury resale platform in the US, generating $1.7 billion in 2023 gross merchandise volume and addressing a niche (personal luxury resale) that had previously been serviced by inefficient upscale boutiques and local pawn shops. The company generates revenue via consignment and first-party sales on its online marketplace, and through a small volume of direct sales. With a hands-on approach that actively sources inventory and authenticates every item on its platform, The RealR

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