Welcome to our dedicated page for The RealReal news (Ticker: REAL), a resource for investors and traders seeking the latest updates and insights on The RealReal stock.
The RealReal, Inc. (symbol: REAL) is the world's largest online marketplace for authenticated, resale luxury goods. Founded by e-commerce veteran Julie Wainwright, the company offers a premier luxury resale store experience by curating, evaluating, and authenticating high-end designer fashion, fine jewelry, watches, and art. With a portfolio that includes brands such as Chanel, Hermès, Manolo Blahnik, and Cartier, The RealReal ensures every item is genuine, eliminating the uncertainty of purchasing luxury goods online.
The RealReal operates on a consignment model, allowing individuals to sell their luxury possessions with minimal effort. The process involves free virtual appointments, in-home pickups, drop-offs, and direct shipping. The company handles all steps from authentication, pricing, and photographing, to listing, shipping, and customer service. With over 35 million members and a team of hundreds of in-house gemologists, horologists, and brand authenticators, The RealReal inspects thousands of items daily, supporting a circular economy by giving new life to luxury items.
In 2023, The RealReal generated $1.7 billion in gross merchandise volume (GMV). The company continues to refine its business model, focusing on the higher-margin consignment segment. This strategic shift resulted in significant improvements, including a higher take rate, better gross margin rates, and positive Adjusted EBITDA by the end of 2023. The RealReal's strong financial performance has placed it on track to achieve positive Adjusted EBITDA on a full-year basis in 2024.
Recent notable achievements include partnerships with brands like Gucci, Stella McCartney, and Burberry, along with collaborations such as the Manhattan Vintage Show in January 2024. These initiatives highlight The RealReal's commitment to sustainability and expanding the vintage luxury market.
The company also engages in strategic debt exchange transactions to strengthen its financial position, such as the recent exchange that reduced its indebtedness by over $17 million, creating capital structure flexibility for future growth.
The RealReal’s forward-looking strategy includes leveraging advanced technologies like AI and machine learning for optimal pricing, enhancing user experience, and maintaining rigorous authentication standards. The company continuously updates its financial guidance and remains transparent with its investors through regular earnings releases and conference calls.
The RealReal (Nasdaq: REAL) announced the appointment of Caretha Coleman and Carol Melton to its Board of Directors, bringing the board's female representation to 50%. Coleman, with over 40 years in technology and advocacy for diversity, and Melton, an expert in global public policy, aim to enhance the company's leadership and innovation. CEO Julie Wainwright emphasized the importance of diverse perspectives for operational excellence and cultural inclusivity. This strategic move is expected to positively impact The RealReal's growth and sustainability efforts in the luxury goods market.
The RealReal (Nasdaq: REAL) will announce its financial results for Q2 2020 on August 6, 2020, after market close. A conference call is scheduled for 2:00 PM PT to discuss results with investors and analysts. Interested parties can join by dialing (866) 996-5385 (U.S.) or (270) 215-9574 (internationally) with passcode 9053887. The RealReal is the largest online marketplace for authenticated luxury goods, employing over 150 experts for item authentication, and aims to promote a circular economy through sustainable practices.
The RealReal, Inc. (Nasdaq: REAL) announced the closing of a $22.5 million issuance of additional 3.00% Convertible Senior Notes due 2025. This follows an earlier offering that closed on June 15, 2020. The new notes resulted in approximately $21.7 million in net proceeds after expenses, supplementing earlier estimated net proceeds of $144.1 million. The company plans to allocate these funds for general corporate purposes. The offering is made under Rule 144A of the Securities Act, and shares from conversions are not registered for public sale.
The RealReal (Nasdaq: REAL) has announced a donation of $250,000 to Black Girls CODE, alongside an additional $235,000 from partners, to expand virtual coding classes for girls of color aged 7 to 17. CEO Julie Wainwright emphasized the commitment to supporting diversity in tech. The initiative aims to empower 1 million girls by 2040, enhancing their skills in STEM fields.
The RealReal, Inc. (Nasdaq: REAL) has closed a private offering of $150 million in 3.00% Convertible Senior Notes due 2025. The notes are convertible into cash and company stock at an initial conversion rate of 56.2635 shares per $1,000, with a conversion price of approximately $17.77 per share, representing a 27.5% premium over the stock's closing price on June 10, 2020. The proceeds, estimated at $144.1 million, will fund capped call transactions and general corporate purposes. The notes mature on June 15, 2025, with interest payable semi-annually.
The RealReal, Inc. (Nasdaq: REAL) has priced an offering of $150 million in 3.00% Convertible Senior Notes due 2025, up from an initial $125 million. This private offering targets qualified institutional buyers and is expected to close on June 15, 2020. The notes feature an initial conversion rate of 56.2635 shares per $1,000 and a conversion price of approximately $17.77 per share. The company expects to net $144.1 million, planned for capped call transactions and general corporate purposes. The notes will mature on June 15, 2025, and have specific conversion and redemption terms.
The RealReal, Inc. (Nasdaq: REAL) announced a private offering of $125 million in Convertible Senior Notes due 2025. The company may grant purchasers an option for an additional $18.75 million in notes. The offering is subject to market conditions and terms will be determined at pricing. The notes can convert into cash, common stock, or a combination at the company's discretion. The net proceeds will fund capped call transactions and general working capital. The offering will not be registered under the Securities Act and will be available only to qualified institutional buyers.
The RealReal, Inc. (Nasdaq: REAL) announced that its 2020 Annual Meeting of stockholders will be held virtually on June 16, 2020, at 9:00 a.m. Pacific Time due to COVID-19 and ongoing restrictions in California. Stockholders as of April 20, 2020, can participate using a 16-digit control number from proxy materials. A notice about this change will be filed with the SEC, and additional details regarding participation and voting are provided in the notice.
The RealReal (NASDAQ: REAL) announced the appointment of Todd Suko as Chief Legal Officer and Secretary. Suko brings nearly 20 years of legal expertise from various public consumer and technology companies. As Chief Legal Officer, he will lead the legal team, oversee regulatory compliance, and provide strategic counsel on corporate governance. His previous roles include Chief Financial and Legal Officer at OneMarket Limited and General Counsel at Harman International. Suko is a University of Virginia graduate and a retired Commander in the Navy Reserve.
The RealReal (Nasdaq: REAL) announced a charity mask sale to support the Gowns for Good initiative, providing PPE to frontline workers. With a commitment to donate 100% of proceeds, the sale features custom masks from various designers, aiming to deliver stylish and functional face coverings. The company has already donated over 200,000 surgical masks to New York, New Jersey, and California, and is working with partners to distribute unused medical supplies. The RealReal also allocated 50,000 square feet of warehouse space for CFDA members in need.
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