Time To Get Real; Julie Wainwright On Rocking The Fashion Industry

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Julie Wainwright and The RealReal team. Courtesy of Julie Wainwright Time to Get Real: How I Built a Billion-Dollar Business that ROCKED the Fashion Industry, by visionary businesswoman Julie Wainwright, was released today. The book is an autobiography focusing on the career of one of the only American women to take a company public, The RealReal, a billion dollar online marketplace for luxury goods that Wainwright founded and built before stepping back in early 2022. I was able to speak with Wainwright about her book, her career and where she thinks the business of fashion will be heading as we continue to navigate the twenty-first century. “The RealReal changed the way people shop and consign,” the author told me. These are and were cultural shifts that Wainwright encourages with her work. She understands the importance of shifting the fashion industry towards more sustainable practices. So much so that the brand’s focus on sustainability in fashion made it a natural choice for the Ellen MacArthur Foundation’s CE100 USA’s first luxury brand member. But how does a person start such a thing, where does one even begin? “The first challenge,” Wainwright said, “was getting consignors because, up until when we were about $750 million in top line revenue, 50% of the consignors had never consigned before. And the repeat rate for consignors was always really high, but for most people, it was too hard to consign.” Julie Wainwright when The RealReal went public. Courtesy of Julie Wainwright Even that had to be broken down further, into steps, to make sure the people who would be consignors (and clients) would understand how The RealReal worked, and what benefits the company offered. “The first thing there,” Wainwright told me, “was letting people know that they had trap value in their home. And then secondly,…