The RealReal announced on Tuesday total sales for the first quarter increased 48%, on the back of strong gross merchandise value (GMV) growth, as the online luxury resale platform remained in the red for another quarter.
Japanese luxury resale firm The Valuence Group announced on Wednesday the launch of Allu USA, an English language e-commerce site and selling studio, catering to the sustainable luxury market in America.
The RealReal announced on Wednesday that both fourth quarter and full year 2021 gross merchandise value and total revenues increased by more than 40%, despite profitability staying in the red at the luxury resale site.
Online luxury resale platform The Real Real announced on Thursday that gross merchandise value (GMV) for December recorded a 40 percent uptick on the year prior, and a 49 percent gain on pre-pandemic December 2019.
The luxury resale platform announced on Wednesday that it has raised $33 million in a Series E funding round, bringing the company’s total funding up to $101 million as it plans further expansions to its tech toolkit.
The luxury resale marketplace announced on Thursday that gross merchandise value on its platform totaled approximately $146 million in November, with growth driven by shopping holidays such as Black Friday.
According to a new report from McKinsey, exploring the rapidly growing resale market not only opens a new revenue stream for luxury labels but could also have a positive effect on brand loyalty and desirability.