- The RealReal raised $300 million in its IPO Thursday, with shares rising nearly 50% today, exceeding a billion dollar valuation and reaching unicorn status. The firm is a major player in the growing resale space, but entirely focused on luxury brands unlike competitor ThredUp.
- Reportedly SoftBank is withholding $100M of their $200M investment in Brandless until, the company meets certain financial goals. Earlier this year, the company brought in Former WalMart COO John Rittenhouse as their new CEO.
- Rent the Runway is placing drop boxes in select Nordstrom locations, with plans for expansion, as the partnership makes the return process more accessible and increases foot traffic into Nordstrom stores. This is the second such partnership for Rent the Runway with, the first being with WeWork.
Source: Secondhand luxury retailer The RealReal jumps almost 50% after IPO
Source: Rent the Runway is bringing its drop boxes to Nordstrom stores