The RealReal Scores $1.7 Billion IPO Valuation

The market has come up with its first price for The RealReal Inc.  The luxury reseller priced its initial public offering at $20 a share, putting its valuation at $1.65 billion. The price is higher than the $17 to $19 range the company projected in a regulatory filing earlier this month. The IPO raised $300 million.  The company starts trading Friday on the Nasdaq under the ticker symbol “REAL,” anchoring its place in an expanding market for personal luxury goods. In a filing this month with the U.S. Securities and Exchange Commission, the company cited a 2018 report by the consulting firm Bain & Co. that said the market for personal luxury goods was a “record high” 260 billion euros, or roughly $294 billion.  Founded in 2011 by CEO Julie Wainwright, the luxury consignment shop has taken its place among designer goods resellers that include Vestiaire Collective and What Goes Around Comes Around. It resells apparel, shoes, handbags and jewelry, art prints and furniture. The RealReal has put its selling point this way — in a crowded marketplace of more affordable second-hand labels, it deploys experts to ensure quality and authenticity.   “The existing luxury resale market is outdated, fragmented, difficult to access and laden

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