The RealReal, an online platform that resells authenticated branded luxury clothing, is aiming to become the first billion dollar circular economy company.
The company, which is certified by the Ellen MacArthur Foundation, operates on the premise that it purchases used luxury goods that it verifies, before re-selling them. By doing so it keeps goods in circulation that could otherwise be sent to landfill. Since its founding in 2011, the company has enjoyed considerable success so that it is now has over 600 employees and sales exceeding $400 million. CEO Julie Wainwright believes the company will soon become a billion dollar business.