Luxury online reseller The RealReal in talks with banks for IPO: sources
Reuters
Published Jan 18, 2019 05:37PM ET
Luxury online reseller The RealReal in talks with banks for IPO: sources
By Joshua Franklin and Harry Brumpton
(Reuters) - U.S. online luxury reseller The RealReal Inc is talking to investment banks about the possibility of an initial public offering (IPO) later this year, people familiar with the matter said on Friday.
The company - which specializes in online secondhand luxury apparel and goods - has sent out a request for proposals to prospective advisors and underwriters to manage the listing this year, said the sources, who asked not to be identified because they were not authorized to speak publicly.
The RealReal declined to comment.
In July last year, The RealReal raised $115 million of private funding in a deal led by Perella Weinberg Partners, with additional participation from new investor Sandbridge Capital and existing investor Great Hill Partners. The deal valued the company at $745 million, according to data provider PitchBook.
Since then, the company, which was founded in 2011, has focused on expanding its brick-and-mortar presence with outlets in new areas and more online fulfillment centers.
The RealReal's success is built on a profitable mix of the boom in e-commerce, the millennial interest in the price and environmental benefits of recycled clothing, and the caution of established high-end brands about what selling their wares on the web can do to brand value.
Fellow e-commerce platform Farfetch (N:FTCH) went public in last September at the top of its target IPO price range, raising $885 million.
Get The News You Want
Written By: Reuters
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.