The RealReal, Its Story, And How It Came About

People generally purchase luxury goods because they convey social status and wealth; rarely do consumers look to brands like Louis Vuitton and Hermes for their quality. If luxury goods were cheap, they obviously wouldn’t hold the perceived value they’re known for; however, many people desire high-dollar brands. As such, people who aren’t wealthy or have considerably high incomes are interested in purchasing luxury goods via secondhand markets.

 

But here’s the problem with secondhand markets for luxury goods

 

Luxury handbags, shorts, and shoes don’t grow on trees – they’re produced by manufacturers. Businesses manufacture clothing and accessories all over the world at slim margins. Many are OK with breaking the law by creating counterfeit goods for sale on unregulated black markets.

 

These counterfeit items don’t always look exactly like the goods they replicate, though they certainly can. Few people want to run the risk of purchasing knockoff goods via secondhand luxury markets; after all, if others can spot that someone’s luxury items are fake, there’s no point in owning them.

 

Just until recently, consumers weren’t fortunate enough to have a reliable secondhand market for luxury goods to trust. However, after United States entrepreneur Julie Wainwright founded The RealReal, people all over the world have been able to spend less on real-deal, high-class items made by brands among the likes of Gucci and Supreme.

 

Who is Julie Wainwright?

 

Julie Wainwright has worked in business throughout her time as an adult on planet Earth. Ms. Wainwright started working for The Clorox Company – its name is self-explanatory; they started off with only Clorox under their belt, though the company is now a conglomerate – right after going to college, though she dealt with information technology within the business’ doors and also managed The Clorox Company’s brand.

 

She first became a chief executive officer in the late 1980s as Wes Boyd’s replacement at Berkeley Systems. Just a few years after hopping on board, Julie Wainwright was laid off.

 

Around the time of her departure, she found employment at the then-young Reel.com as its CEO and president. Eventually, Reel.com was gobbled up by Hollywood Video for $100 million. She next worked at Pets.ccom, though the website was short-lived.

 

In 2011, she created what’s known as the best secondhand market for luxury goods around the world – RealReal.

 

What is RealReal and what does it stand for?

 

The RealReal is a fully-fledged corporation that employs just north of 1,500 people. In the company’s most recent financial statements, Wainwright’s corporate creation indicated that it brought in some $500 million in gross sales.

 

Wainwright first thought of creating a secondhand market for expensive luxury goods after she tried selling some of her own. She recalls visiting pawn shops in hopes of selling some of her used items, though she didn’t receive high offers and felt “disgusting” spending time in such stores. Wainwright also knew she could outsource batches of her luxury-branded goods, though selling items on consignment is often associated with difficulties related to collecting payment from partnered retailers.

 

eBay didn’t work too well for Wainwright’s goals of reselling her used luxury items en masse because customers couldn’t be certain that such products were legitimate. That’s why she wanted to bring a resale platform to luxury goods – and she’s done just that.

 

It goes without saying that The RealReal is a unique company, though it goes above and beyond other resale markets for used goods in several ways. One such way of getting ahead for Julie Wainwright and company is by hiring professional photographers to take pictures of all items in stock.

 

Paul Mampilly: How Investors Should Avoid Common Mistakes When Investing in Stock Market

Paul Mampilly is a well-known person in the financial industry where he has steered the development of various organizations. He has worked in multiple organizations such as Banker Trust, Deutsche Bank, and Kinetics Asset Management among others. After working for several years, the financial guru decided to quit so that he could spend much of his time with his family and have time for his personal development. Nevertheless, Mampilly continues to work in the field of finance where he currently works as a research and investment analyst. He is regularly engaged in writing newsletters that will help people make a sound financial decision and buy profitable stocks.

 

The eight-page newsletters have since helped everyday individuals to make critical decisions concerning investment opportunities at disposal and select the one where they will not lose of much of their hard earned money. Being featured on a consistent basis on Bloomberg TV, CNBC, and Fox Business News is a clear demonstration that Paul Mampilly is a trusted person who offers justifiable advice to investors. This can also be found on a large number of people who signed for Mampilly’s Newsletter; Profits Unlimited, since joining Banyan Hill Publishing back in 2016. Profits Unlimited is a personalized newsletter that offers insight to investors on the best stocks to buy and is published on a monthly basis.

 

Despite conducting significant research to write the monthly newsletter, Mampilly is a busy person and spends much of his time in managing True momentum and Extreme Fortunes, which are two elite trading services. He is also engaged in writing in for Winning Investor Daily on a weekly basis. In a recent interview with Eric Dye of Enterprise Radio, Paul Mampilly discusses some critical trends in the financial market such as mistakes that investors make before investing in shares and how the stock market has changed over time.

 

Answering on some of the mistakes that investors make while choosing to invest in the stock market, Mampilly notes that investors decide to spend in one stock and they choose to go with all through without considering that there are other investment opportunities that investors should consider. The problem is that investors go on to invest large amounts of money. In a situation when they are wrong, the investors end up losing a lot of money that would be difficult to recover. By saying this, Mampilly is challenging investors to diversify their investments which will provide a cushion against losses.

 

The second time is that investors tend to buy stocks in the money market when they are feeling right about investing or when they have the necessary money to invest. This means that individuals don’t make a rational decision when buying shares because they do not conduct any research before investing. Mampilly advises investors to invest when situations are tough because this is the time when the costs of the shares are low as compared to when the economy is performing well. Therefore, it is essential that investors determine when is the best time to buy stocks and avoid losses that come with emotional buying.

 

Paul Mampilly goes ahead to discuss some of the changes that have occurred in the stock exchange market. He goes ahead to highlight that technology has played a significant role in the way the stock market operates because computers are performing the functions that individuals used to perform manually. The use of modern innovations means that artificial intelligence, application of robots, and computer algorithms have brought significant changes in the manner in which individuals track prices and purchase various stocks. Even the smallest organizations are using technology to determine consumer behavior and forecast future trends in the stock market which is vital in predicting the price of various stocks.

The Outstanding Financial Acumen of Graeme Holm

The customer-oriented approach of Graeme Holm’s organization, Infinity Group Australia, has brought a lot of popularity to the gentleman and the firm itself. The organization was established in 2013 by Graeme Holm and his wife, who is currently his business partner, with the aim of liberating the common Australians from the great exploitation they had been facing from the local financial institutions, especially the lenders. Most of the lending firms used to take advantage of the borrowers’ ignorance by charging them high-interest rates and also some other hidden charges.

During this time, Holm was working for the big banks in the country, and he was never satisfied with the kind of service that the customers of these firms were getting.

 

Graeme realized and felt that a huge gap existed in the customer service section of the organizations and that the customers deserved better than they got. This motivated him, in partnership with his wife, Rebecca Walker, to form a firm that could act as a personal banker to the customers. This is how they formed Infinity Group Australia. After the formation of the firm, they went a step farther from what other financial institutions offered their clients. The duo understood that customer satisfaction entailed a lot more than just giving loans and mortgages to the customers that needed them. They understood with deep clarity that some of the clients were not educated enough to maneuver in the management of the loans that they borrowed.

 

This is how Graeme initiated the aspect of customer advice to the firm. Infinity Group Australia offers detailed advice, reviews and loan budgets to its customers on a monthly basis so that the borrowers can keep a clear track record of the payments and the outstanding balances of their loans. They also provide their clients with advice on debt management, solutions to retirement and wealth creation. Through this noble initiative, the rate at which clients pay their loans has rapidly increased, with the number of loan defaulters drastically reducing. The monthly loan status reports and reviews have also enhanced the quick rate at which the borrowers refund their loans.

 

The Infinity Group Australia reviews show that the customers are very satisfied with the kind of service that they receive from the company. Most of them confess that the pieces of advice they get about the proper management of their debts have gone a long way in the improvement of their financial positions. They say that unlike before, when the company had not been introduced in the industry, now they can afford a smile knowing that their worries of financial challenges have all been absorbed by Infinity Group. They are now happy with their family with the understanding that their financial problems are sorted out.

 

Infinity Group Australia reviews also indicate that the customer service at the organization is of top-shelf quality. This can be attributed to the strong leadership of the director of the firm, Graeme Holm, and the co-leader, Rebecca Walker who happens to be his wife too. Credit can also not be denied to the group of employees that who implement their professional skills in the handling of their clients. The personnel at the Infinity Group are all very determined to ensure that their customers are ever smiling.

 

Graeme has also been very instrumental in nurturing young entrepreneurs. The main advice that he offers to them is to stay focused and stop wavering in their search for the right talent that they may be having. Focusing on the activities that they do with passion will lead them to the realization of their dreams and talents. He also advises the young entrepreneurs that they shouldn’t feel offended by offering their free services. This is one of the ways to build confidence among the potential clients.