The RealReal operates the world's largest online marketplace for authenticated, pre-owned luxury goods, connecting consignors (sellers) with global buyers through a curated, trusted platform. The company offers pre-owned luxury products including women's and men's fashion, jewelry, and watches from prestigious brands such as Chanel, Gucci, Hermès, Louis Vuitton, Prada, and Rolex, generating revenue through transaction fees on consignor sales. The business model leverages a network effect where increased consignor supply attracts more buyers, improving sales velocity and earnings, while the company's physical retail stores in major markets drive customer acquisition and brand awareness. The RealReal differentiates through proprietary authentication technology, consignor-friendly pricing and speed, rigorous quality inspection, and a multi-channel approach that combines online and offline retail to address fragmentation and counterfeiting in the luxury resale market.