The RealReal, the leader in authenticated luxury consignment, and Neiman Marcus Group LTD LLC today announced a strategic partnership that offers luxury shoppers an easy way to consign and earn maximum value for their luxury goods. Neiman Marcus is the launch partner for a new consignor gift card program that offers consignors payment in Neiman Marcus gift cards with an extra 10% added to the value of their payout. The partnership also expands an in-store consignment program begun earlier this year in 6 Neiman Marcus stores to 34 stores across the country.
“We learned that over 40% of our consignor-base was interested in receiving their payment in the form of gift cards to their favorite luxury retailers. We’re thrilled that our first luxury retail partner for this program is Neiman Marcus who enabled us to immediately offer this service to our consignors,” said The RealReal Founder and CEO Julie Wainwright.
The new payment option for The RealReal consignors allows them to choose their payout in the form of a Neiman Marcus gift card. If a consignor chooses this option, they receive an extra 10% on the value of their payout. It encourages consignors to put their money back into the luxury retail market with an added bonus, and consign again with The RealReal once they are done with those items, completing the full luxury lifecycle. Click here for more details.
The expansion of the in-store consignment program from 6 to 34 stores nationwide allows Neiman Marcus sales associates to offer their clients a trusted and private consignment service though The RealReal, giving them an effortless way to make money on their unused luxury goods. The RealReal’s Luxury Managers in each market work hand-in-hand with Neiman Marcus sales associates providing personalized service and white glove pickup of items in a manner best suited to each client.
“There is a very real demand for a service-oriented aftermarket solution for selling luxury goods, evident through the thriving business we’ve established. In 2015 alone, we’re projected to pay consignors over $100 million from the resale of their luxury goods,” said Wainwright. “As the leader in luxury resale, we couldn’t be prouder to partner with the leader in luxury retail to give our customers and consignors a smart way to shop new luxury items at their favorite retailer and get fast liquidity for those items once they are finished with them.”
“Neiman Marcus always puts a priority on enhancing our customer’s shopping experience and exceeding her expectations. Through our partnership with The RealReal, our customers can now schedule a private, in-home consignment with The RealReal through all Neiman Marcus stores,” said Wanda Gierhart, Chief Marketing Officer, Neiman Marcus. “After seeing the increased demand for this service since its pilot program launched in February, we recognized the benefit of offering the service to our customers across the country.”