#therealreal

[untitledwindowlicker]

[art-stress]

Dreaming of this

[acteur-dramatique]

Cart Full of Regret

In the swell of hypomania,

I feel invincible,

my finger hovering over "add to cart"

like it's the answer to everything

I cannot put into words.

Boxes arrive like gifts I gave myself --

handbags that shimmer in the designer light,

shoes that whisper of status,

another MacBook to join the fleet,

an iMac, and iPad Pro,

each one promise

that this time, this thing

will make me whole.

The packages pile u p,

trophies of a battle I don't remember choosing.

Each swipe of my card feels like medicine,

a dose of something sweet,

a rush of satisfaction --

and for a moment, I'm weightless,

soaring high on the thrill

of having more,

of owning things that shine.

But then, the descent.

The high fades, the boxes sit unopened,

and I crash into the emptiness left behind,

a sinking realization setting in my chest,

heavy as debt,

cold as the glow of unopened Apple screens.

I'm left with receipts,

stacks of dollar signs glaring back at me,

a reminder of the spiral,

the financial wounds I've etched

into my own account.

The depressive swing pulls me under,

and I sit in the dark,

staring at the things I thought I needed,

a fleet of devices, bags, shoes

the mock me now,

fiscally useless,

emotionally hollow.

I want to return the feeling,

to send back the regret,

to undo the cycle that has

unraveled me.

But it's always there,

this loop of highs and lows,

a cycle I wear like a shackle,

each phrase a link in the chain

that keeps me swinging

from bliss to remorse.

I count the cost in more than dollars,

in days lost to regret,

in sleepless nights,

wondering when the need to feel whole

will let me go.

[introspect-la]

MIU MIU SUNGLASSES

[m0tel6mxzzy]

rue bennett — danielle guizio sweater

[liiiiiiiiiiiiiiiiily]

someone get me off of therealreal my minimum wage cannot afford this

[timesofinnovation]

After less than two years in the role, John Koryl has stepped down as CEO of The RealReal, the prominent online luxury consignment platform. The company announced this leadership change on Monday, naming Rati Sahi Levesque as the new chief executive officer, effective immediately. Levesque, a co-founder of The RealReal since its inception in 2011, has been instrumental in shaping the company’s trajectory, holding various leadership positions in areas such as sales, merchandising, and marketing. Levesque's appointment comes during a critical time for The RealReal, as the company is working to stabilize its operations and improve financial performance after facing significant challenges in the luxury resale market. Under her leadership alongside former CFO Robert Julian as interim co-CEOs, the company began implementing major changes aimed at achieving profitability. These reforms included revisions to the commission structure that now favour higher-value items, like jewelry and iconic bags from brands such as Hermès. The move to hire Koryl in early 2023 was intended to bolster these efforts, as he brought experience from Neiman Marcus to help navigate the company's financial struggles. His tenure included efforts to refine customer service offerings and further adapt the commission structures. Notably, The RealReal achieved EBITDA profitability for the first time since its IPO in 2019 during the fourth quarter of 2023, a milestone that reflects the effectiveness of these strategic changes. For fiscal 2024, The RealReal forecasts adjusted EBITDA between $4.5 million to $7.5 million, a dramatic turnaround from the adjusted EBITDA losses of $55 million in 2023 and $112 million in 2022. However, this journey toward profitability has not been without its downsides. The company’s gross merchandise value (GMV) fell by 5% year-over-year in 2023, dropping to $1.7 billion. Looking ahead, The RealReal expects to reach a GMV of about $1.8 billion for 2024. The board’s confidence in Levesque is palpable. Karen Katz, chairperson of the board, expressed strong support for the new leadership, emphasizing that Rati and her team are positioned to advance the business effectively. Koryl’s departure was framed positively, with the board wishing him the best as he focuses on family matters. Despite the favorable financial developments, challenges remain. Many consignors have expressed dissatisfaction with the platform, feeling that reselling luxury items is not as financially rewarding as it once was. This sentiment threatens to impact the inventory and variety of items available on the platform, which is crucial for a resale business reliant on consignors willing to list their items for sale. Levesque's rich experience within The RealReal makes her an ideal candidate to address these issues head-on. As the first employee of the company, she has witnessed the evolution of the current landscape of luxury resale. Her understanding of the business, coupled with her previous leadership roles, uniquely positions her to better align offerings with the interests and needs of consignors while staying committed to increasing profitability. The RealReal's trajectory highlights a critical phase in the luxury resale market. As consumers continue to seek sustainable and cost-effective shopping options, platforms like The RealReal must navigate the fine line between profitability and attractiveness to sellers. In conclusion, Rati Sahi Levesque's ascension to the CEO role showcases a deep-rooted commitment to reinvigoration and understanding of the luxury resale landscape. Her leadership will likely influence the company's ability to foster relationships with both buyers and sellers, ensuring that The RealReal remains a significant player in the luxury commerce space. The ongoing evolution within the company will be closely watched by industry experts and consumers alike as it unfolds in the upcoming fiscal year.

[techstylemedia]

Where Vintage Fashion and Tech Collide...

Hello y’all!

Vestiaire Collective’s latest resale launch on 15th Oct., 2024 sent people into a frenzy with their $15 luxury bag collection. Imagine being able to own a vintage Coach or Chanel bag for $15?! Insane, I know.

But more interestingly, according to an article by Fashion Dive, the company also recently hired a new Chief Tech and Product Office, Stacia Carr, to enhance its AI capabilities as a strategic move in the fashion resale industry. 

The article also mentions a recent report from OfferUp which found that the recommerce market is projected to reach $291.6 billion by 2029, and resale is expected to account for 8% of total retail by then, which means that as secondhand fashion market continues to grow rapidly, platforms like Vestiaire Collective are investing in AI and Gen AI to stay competitive and meet rising consumer expectations. 

This development also comes amid the increasing integration of technology, particularly AI, in the fashion industry. It is shaping how consumers shop, interact with brands, and perceive value. 

Vestiaire Collective’s decision to focus on AI demonstrates a recognition of the scalability and efficiency AI offers in managing large inventories. The resale market operates differently from traditional retail in that it handles unique, secondhand items that vary in condition and provenance. By employing AI, platforms can automate tasks such as product authentication, price optimization, and personalized recommendations to reduce operational costs and maximize profitability. 

For instance, AI algorithms can help predict market trends and identify which items will sell faster, allowing for dynamic pricing models that reflect real-time demand and supply. This leads to more efficient inventory management, which is crucial in a highly competitive market where margins can be thin.

But it does not end there. On the consumer side, AI can be used to improve conversion rates and customer satisfaction. With its ability to tailor search results and suggest products based on a shopper’s previous activity, AI-driven personalization allows consumers to discover products that align more closely with their style, reducing the overwhelming nature of browsing large inventories. 

AI-powered chatbots already assist customers with inquiries, which ensure speedy customer service and reduced wait times. This creates a more engaging, seamless shopping experience that keeps consumers returning. 

AI can also lead to higher average order values, often nudging consumers toward more expensive complementary items by aligning personalized recommendations with their preferences. For Vestiaire Collective, this is vital in an increasingly crowded marketplace where differentiation as well as personalization is key to retaining customers. 

Other fashion retail platforms, such as Farfetch and The RealReal, have also been using AI to drive economic growth, particularly through enhanced consumer experiences.

Farfetch, for example, has developed AI-powered virtual try-ons, which allow consumers to visualize how clothing will fit without trying it on physically. This not only reduces the return rate, a costly issue in online retail, but also increases consumer confidence in purchasing, leading to higher sales.

Similarly, The RealReal, a luxury resale platform, uses AI for authentication, ensuring that consumers trust the quality and legitimacy of secondhand goods. This trust directly impacts the economic viability of resale platforms by attracting consumers who might otherwise hesitate to buy pre-owned items due to concerns about counterfeits.

However, there are also concerns about the potential downsides, such as the loss of human touch in customer service and the over-reliance on algorithms, which can sometimes misinterpret consumer preferences. Despite these concerns, the economic advantages for both businesses and consumers are evident, as AI helps streamline operations and provide more tailored shopping experiences.

I think Vestiaire Collective’s AI integration is another step toward the merger of the fashion and tech worlds for overall economic growth and consumer engagement. As AI continues to evolve, its role in shaping the future of fashion retail will likely expand, offering both opportunities and challenges for businesses and consumers alike. 

So did anyone get their hands on a bag from Vestiaire Collective’s sale?! Let me know how your experience of using the platform was in the comments below!

Until next time,

Cheers!

http://newhouse.syr.edu

[khleooor]

number one goal in life

[sindoshipping]

How TheRealReal, Vestiaire Collective and Net-a-Porter Getting Traction in Luxury World in Recent Time?

The luxury resale market has seen significant growth in recent years, driven by changing consumer behaviors and the rise of digital platforms that make luxury goods more accessible. Among the key players in this space are TheRealReal, Vestiaire Collective, and Net-a-Porter, each carving out a niche and gaining traction in the luxury world. These platforms have not only revolutionized the way…

[mallary]

trr wishlist

[dippedanddripped]

Reversing a previous effort to bulk up staffing, The RealReal on Wednesday said it will cut operating expenses through layoffs and store closures. The moves will cost some $1.7 million to $2.2 million, mostly in severance payments, employee benefits and related expenses.

The apparel resale company will let go of about 230 employees, or 7% of its workforce, according to a filing with the Securities and Exchange Commission.

Two flagship stores in San Francisco and Chicago, two neighborhood stores in Atlanta and Austin, Texas, and two consignment offices in Miami and Washington, D.C., will shutter, per the filing. The company will also reduce its office space in San Francisco and New York City.

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Dive Insight:

The RealReal’s chief executive John Koryl arrived just last week — ending an eight-month search after founder Julie Wainwright’s abrupt departure last year — and is now wasting little time attempting to right the ship.

The company operates, mostly online, in the runaway resale segment, which is garnering more attention from consumers. And, increasingly, from retailers, as the topic dominated the National Retail Federation’s recent industry conference. Research from GlobalData and ThredUp found that the market in the U.S. could more than double by 2026 to reach $82 billion, and WD Partners has found that shoppers are eager to find used goods in most categories.

But The RealReal has long struggled with profitability, and its year-to-date $151.2 million loss is only a slight improvement over last year, according to emailed comments from GlobalData Managing Director Neil Saunders. The retailer landed on Retail Dive’s bankruptcy watch list last year.

“Although resale remains one of the stars of the apparel market with exceptionally high growth, the current environment is more challenging as consumers are a little more conservative about making purchases,” Saunders said. “The competitive environment is also tougher with a raft of new resale players, including brands selling directly to consumers. Throw in the higher costs of doing business into the mix and there is a significant threat to The RealReal’s quest to move into the black.”

The RealReal may be in a bind, however. In part due to the unique logistics of resale — unlike most of retail, sourcing secondhand goods is more difficult and complex than selling them — brick and mortar is by far more lucrative than e-commerce for this market, WD Partners also found.

In any case, more steps may be needed if The RealReal is to finally move into the black, according to Saunders. That could entail further reduction in its physical store footprint. The company in its filing Wednesday said that it “will continue to evaluate its real estate presence as it deems appropriate to create efficiencies and to address trends in the marketplace and macroeconomic factors.”

[cashoutnxrm]

I do my own stunts.

[m0tel6mxzzy]

vivienne westwood logo foil handle bag

[dariasonlinedairy]

⋆ ˚｡⋆౨ৎ˚ me core 🖤🧛🏻‍♀️🎀

[diorrxckstar]

𝐂𝐇𝐀𝐈

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⤳𝐑𝐢𝐨 𝐕𝐢𝐝𝐚𝐥

⤳𝐋𝐢𝐥𝐢𝐚 𝐂𝐚𝐥𝐝𝐞𝐫𝐮

𝐇𝐚𝐫𝐫𝐲 𝐏𝐨𝐭𝐭𝐞𝐫 / 𝐌𝐚𝐫𝐚𝐮𝐝𝐞𝐫𝐬

𝐄𝐏𝐈𝐂: 𝐓𝐡𝐞 𝐌𝐮𝐬𝐢𝐜𝐚𝐥

𝐁𝐞𝐞𝐭𝐥𝐞𝐣𝐮𝐢𝐜𝐞

⤳𝐁𝐞𝐞𝐭𝐥𝐞𝐣𝐮𝐢𝐜𝐞

𝐌𝐢𝐬𝐜

⤳𝐓𝐡𝐞𝐑𝐞𝐚𝐥𝐑𝐞𝐝

𝐁𝐞𝐚𝐜𝐡, 𝐏𝐥𝐞𝐚𝐬𝐞! 𝐥𝐢𝐯𝐞 [𝟏𝟕𝐭𝐡 𝐉𝐮𝐥𝐲 '𝟐𝟒]

𝐂𝐑𝐄𝐃𝐒 𝐓𝐎: @adornedwithlight @drizztdohurtin @xurengu0