Secondhand fashion site TheRealReal soars on Wall Street debut

The Real Real

Shares in The RealReal, the US secondhand luxury fashion website, jumped more than 40% after their Wall Street debut as investors cashed in on the growing buzz around the circular economy in fashion.

The San Francisco-based tech firm, founded by its chief executive, Julie Wainwright, argues it is making the £1tn global luxury industry more sustainable by extending the life cycle of expensive handbags and shoes beyond a season. RealReal raised $300m (£235m) from investors by selling new shares in a flotation that initially valued the firm at $1.6bn.

Read the full article on The Guardian.