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Tag: RealReal Inc

The RealReal’s ‘Faux and Tell’ discloses fakes published on the site

The RealReal’s stock plunged by nearly 11%, shaving off more than $202 million in market value, on the day a CNBC investigation revealed problems in the company’s authentication process. As of Tuesday’s market close, its stock is down 20.7% since the report on Nov. 5, or a loss of $384.5 million. The company responded by …

The RealReal’s ‘Faux and Tell’ discloses fakes published on the siteRead More

‘We keep changing’ to fend off fakes

The RealReal is constantly updating its operations in an effort to prevent and remove counterfeit products from its website, founder and CEO Julie Wainwright told CNBC Tuesday. “What we did even in August of this year doesn’t look like what we do now,” Wainwright said in a “Mad Money” interview with Jim Cramer. “We have …

‘We keep changing’ to fend off fakesRead More

The RealReal CEO says ‘We may not be perfect every single time’

The RealReal CEO Julie Wainwright conceded on Wednesday that the luxury consignment marketplace’s claim of not having any fakes on its website may not be correct. “We strive for perfection, but may not be perfect every single time,” Wainwright wrote in an email to customers and consignors. Wainwright’s message was sent one day after CNBC …

The RealReal CEO says ‘We may not be perfect every single time’Read More