LegitGrails uses no fewer than four authenticators to authenticate a single item, compared to The RealReal's alleged use of a single copywriter for authentication, and determined the customer's shoes were a "lower grade replica" of Dior sneakers. In a 2021 update, Kestenbaum wrote about a customer who paid $1,000 for a pair of Christian Dior sneakers from The RealReal, but upon receiving them, was suspicious of their quality and sent the shoes to be authenicated by LegitGrails, a third party authenticator. Kestenbaum claims the only authentication of many pieces at The RealReal is from a single copyrighter, whose main task is to write the descriptions of the merchandise being sold, instead of the expert authenticators The RealReal advertises. In 2019, Richard Kestenbaum, writing for Forbes, disclosed purchasing a bag from The RealReal for $3,600, sold as an authenticated Christian Dior bag, that was found to be counterfeit. In 2018, Chanel filed suit in the Federal Court of the Southern District of New York, alleging The RealReal for hosted counterfeit Chanel on their website and misled customers that an affiliation existed between the two. The RealReal has had multiple claims from luxury designers that items on their website were counterfeit. On June 28, 2019, The RealReal went public on Nasdaq under the symbol REAL and raised $300 million during its IPO. On May 31, 2019, The RealReal submitted a preliminary filing ( S-1) to the SEC to go public. In 2020, the company announced it signed a lease to open an additional e-commerce center in Phoenix, Arizona. In early 2019, The RealReal announced it would be adding a half-million square foot e-commerce space in Perth Amboy, New Jersey, to its existing e-commerce centers in Secaucus, New Jersey, and Brisbane, California. As of February 4, 2022, The RealReal had 19 consignment offices across the U.S., 16 of which in its retail stores. In 2022, The RealReal opened a location in Brentwood, Los Angeles. In 2021, the company opened locations in Brooklyn, New York, Newport Beach, California, Greenwich, Connecticut, Austin, Texas, Dallas, Marin, California, Atlanta, Manhasset, New York, and Palm Beach. In 2020, the company opened its fourth location in San Francisco’s Union Square, a fifth in Chicago on the Magnificent Mile, and a sixth in Palo Alto, California.
In 2019, The RealReal opened a third location, its second in New York, on Madison Avenue. In 2018, it opened its second location in Los Angeles.
In 2017, The RealReal opened its first permanent retail store in New York City and opened pop-ups in San Francisco and Las Vegas. By July 2018, the company had raised $288 million in venture capital funding. The RealReal was founded in 2011 by Julie Wainwright, an e-commerce entrepreneur.
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