[FROM THE ARCHIVES] How The RealReal Changed Luxury Resale Forever
Let's Get Dressed
In this archival episode of 'Let's Get Dressed,' host Liv Perez sits down with Julie Wainwright, founder of The RealReal, to discuss her jou
Key takeaways
- Failure is not the end—it's a critical learning opportunity that can fuel future success.
- The most successful entrepreneurs surround themselves with energizing, creative people and trust their instincts.
Main topics
- The rise of luxury resale through The RealReal
- Reinvention after professional failure (Pets.com collapse)
Notable quotes
"Every failure is a learning opportunity. Everything that comes at you is something that will add to you. It won't subtract from you at all."
"If you have that idea, it's probably in the ether somewhere. Someone else is going to do it too. And how you execute is the difference."
Conclusion
Julie Wainwright's story exemplifies resilience, innovation, and the transformative power
Transcript preview
Speaker 1 (0:00) Hi, everyone. Welcome back to another episode of Let's Get Dressed. It's your host, Lib Perez. I am currently on a much-deserved summer holiday, but don't worry, I'm not leaving you guys hanging. Some of the best fashion lives in the archives, and the same goes for podcasts. So over the next few weeks, I'll be re-airing some of my favorite past episodes, and I hope you guys enjoy. Speaker 1 (0:23) Hey, everyone. Welcome back to another episode of Let's Get Dressed. It's your host, Liv Perez. Today, we have on a serial entrepreneur who has definitely changed the way I and probably so many of you listening have shopped. From shuttering a business to building a billion-dollar business, Julie Rainwright is the founder of The RealReal and is an entrepreneur who has truly seen it all. After serving as the CEO of Pets.com and actually experiencing its collapse after it went public during the dot-com crash, Julie had to reinvent herself, and she went on to build The RealReal, the luxury resale platform that revolutionized the fashion industry. In today's episode, Julie opens up about how she turned a major setback into her biggest company yet, the innovations that really set The RealReal apart and still do to this day, and the really powerful lessons that she learned as a woman navigating the business world. In case you're extra inspired by today's conversation, Julie is also coming out with her memoir, Time to Get Real, How I Built a Billion Dollar Business That Rocked the Fashion Industry. It is coming out tomorrow, June 10th, and is available on Amazon and Barnes & Noble. I've linked it in the description of this episode. Before we get going, a quick housekeeping note. If you love this podcast, you will... Definitely love my new Substack newsletter, Let's Get Dressed. As a subscriber, you will get weekly fashion deep dives, daily styling tips, trend forecasting, and access to an incredible community of fashion lovers alike. And as a thank you to you guys for being my podcast listeners, I'm giving you three months free when you subscribe for the full year. That's just $63 for exclusive content and access to my private style chat where you can ask me questions directly. like what to wear to a friend's wedding or how to style that new shoe that you just got for your closet. You can sign up through the link in the show notes and I hope to see you guys there. Now let's go get dressed with Julie Wainwright. Speaker 1 (2:18) Hi, Julie. Hi, Liv. I'm so thrilled to have you here today. Speaker 2 (2:22) Oh, I'm so happy you're having me on. This is fun. I love that you're in New York. Speaker 1 (2:27) Oh, thanks. I know it was kismet timing for us because we were booking this and I was like, I'm coming to town. And now we're in this insanely chic room and your outfit matches perfectly with the room. It's just fun. It's so nice. I am such a fan and admirer of you and your work. I am like an OG real, real girl. I think I've. been on there since 2012. Every time I sign on there, it says like, you're Speaker 2 (2:50) very early, very Speaker 1 (2:52) early. I think my mom, who's a big fashion lover, was an early adopter of the RealReal. And yeah, Speaker 2 (2:57) we launched in June of 2011. So you're really early then. I'm Speaker 1 (3:02) such a big fan. Well, thank you. Of course. And especially now you're writing a book. You have so much to look forward to. I'm so excited to dive into all that today. Okay. Speaker 1 (3:12) A little nervous about the book coming. I'm excited, but nervous. Speaker 2 (3:15) For me, it was, I felt like the story of creating The Real Real was a big story. Yeah. And it has so many lessons along the way. And it was mostly fun, but it was also crazy. Yeah. That I wanted to write a true story because, let me tell you, going out to meet with publishers, which my agent did, she heard time and time again, women's business books don't sell. And I mean, we ended up with a couple of offers, but I mean, that was, you know, 98 % no, you only need one or you self-publish, but women's business books don't sell. And then when I thought about it, I buy most women's business books. Yeah. And they're more promotional. Right. And which is fine. And they serve a purpose. This isn't, this is really, it's sort of down and dirty what it's like to, you know, create something. which started in my home, to getting it to a billion dollars and working in the venture capital world. And I take you year by year and what happened and stories and anecdotes and, you know, to present day. So it's a ride. It's a ride. But starting a company is a ride. You know, it's really something. I Speaker 1 (4:29) think now more than ever, there's a very big appetite for... stories from women in tech who have gone on to work in other industries that are not just Silicon Valley focused. Julia and I actually have a friend who has an Instagram account called Data But Make It Fashion. She went to Harvard. Oh, I know that site. Best. Love it. Love it. And I think her rise and her kind of not overnight success, but she's definitely had a very high demand in the last year. And I think it's because there is this appetite for more stories from other people who have. taken what they love and turned it either into a fashion business or a beauty business, but not sacrificed, not having to be in the tech space or the startup space. It's amazing. Let's first, before we go in there, we always open the show with asking what you wore to pod today. So let's start there. Before we get into the nitty gritty of the real, real, I have to know what you put on today because everything about your outfit is perfect. That ring is unbelievable. Which one? The one on your... This one? Anti-ring finger. All right. All right. Speaker 2 (5:30) So this is Diane von Furstenberg. It's the perfect wrap dress. It's I love her things. I know her. I consider her a friend. And honestly, she Speaker 1 (5:40) knows Speaker 2 (5:40) how to cut for women. They're so easy to wear. They're gorgeous. And I mean, they're sexy. Yes. You know, amazing. Which is what I think she is. Right. She's all those things. She's so fabulous. She is so fabulous. Without a doubt. These are Louboutins. Yep. I need my platforms because I'm short. Oh, my. These are all real, real. Okay. So we've got some Cartier. We've got some Cartier. Love. This is my friend. You may even know. Darn it. I wish I knew. Anyway, from LA, Fran Lasker. Her daughter does jewelry. Do you know Fran? Do you know her daughter? This is crazy. I grew up Speaker 1 (6:16) with them. That was one of my mom's oldest friends. Oh, Speaker 2 (6:19) my gosh. So Speaker 1 (6:19) Sienna's Jewelry Line. That's Sienna's? That is Speaker 2 (6:23) Sienna. Sienna, Speaker 1 (6:24) I'm giving you a call, babe. Yep. Wow. It's gorgeous. I can't. Speaker 2 (6:28) I know. I'm LA Speaker 1 (6:29) born and bred. Born Speaker 2 (6:29) and bred. So whenever I wear this, everyone's like, where can I buy this? I'm like, yeah, I can hook you up. It's Speaker 1 (6:36) so gorgeous. So love this. And do I have a... Gold Speaker 2 (6:41) hoops. Yeah, I don't. These might even be Cartier. Speaker 1 (6:45) They're beautiful. And then Presley Oldham. Do you know him? Presley Oldham. I don't think so. He's Speaker 2 (6:50) adorable. He's a young designer. He tends to take other jewelry and other and remakes jewelry. Oh, beautiful. These are two of his necklaces, which I love him. So he's working really, really hard. Everything is recirculated, recycled jewelry. So this is him. I talked to him to actually help him with his business. He's sort of a one man show trying to do everything. And he's young and gorgeous, but he's going to fall apart at some point. Speaker 1 (7:15) And we all need mentors like you. OK. He's going to fall apart. And this is Speaker 2 (7:19) another Sienna. Speaker 1 (7:21) Oh, wow. Oh, my God. This is a crazy thing that you're here on the podcast wearing all Sienna's jewelry. I love that. What a small world moment. But I think her things Speaker 2 (7:29) are so wearable and they're beautiful. And Speaker 1 (7:32) she's been doing it for a long time. She has. Speaker 2 (7:33) Another Speaker 1 (7:34) successful entrepreneur. Yeah. Yes. I love it. And who makes your glasses? I Speaker 2 (7:38) do not know, but I wouldn't doubt if they're Ray-Ban. I Speaker 1 (7:42) think so. Clear. Speaker 2 (7:43) Yeah. They're beautiful. For Speaker 1 (7:44) you as someone who is... Clearly in a lot of like power rooms, you're pitching, you're kind of out there all the time. I love that you just said the DVF wrap dress is part of your kind of repertoire of quote unquote power suits. What else is in your wardrobe that if you have a big meeting or a podcast or something that feels important that you're like, okay, this is my boss outfit? Well, Speaker 2 (8:05) I still wear a lot of suits. I still love pantsuits because they're so easy and they're flexible. And I have two go-tos, Alexander McQueen. which I love everything about it, except when their shoulder pads got too extended. But you can still find some that aren't, you know, way out like three feet. Anyway, love them. And if I, I mean, I will buy two or three at a time. And also they have good resale value. Very important. And then you still have to look, but can be really sexy, sexy, but really professional. Dolce suits. Oh, Speaker 1 (8:39) wow. So, but again, you have to look. More form fitting. Well, I just bought a pair of, Speaker 2 (8:44) I bought a brown pinstripe suit from them that has wide leg pants. Cute. And a cute tight jacket. So cute. So different. Yeah. Very fresh. But I would say Alexander McQueen's my suit. I know, you know, I'm petite, so I have to, I wish I could wear other designs. Like I love a good Celine jacket. Speaker 1 (9:04) Yes. Oh my gosh. Love. That is one of my biggest real, real searches. Celine jackets. Speaker 2 (9:10) Love it. Speaker 1 (9:10) Yep. They're so well made. And I just feel like- Speaker 2 (9:13) They're timeless. They're timeless. And Speaker 1 (9:15) like a little edgy in the best way. Yes, I agree. Not something that feels too like thin. It gives you a great shape, a Celine jacket, in my opinion. Yep. And you brought up shoulder pads before. What do you say to the shoulder pad haters? I'm a shoulder pad lover. Speaker 2 (9:28) Well, look, I wear, I mean, I don't have shoulder pads on today. I think there's shoulder pads and then there's shoulder pads. Yes. And I think a good shoulder pad when they brought it back, you know, because the 80s were crazy. Yep. When they brought it back and it was more just a little bit, they didn't go extreme. And even remember when Alexander McQueen did the little like turk up? Yes. I thought it was fabulous. It cut a nice line. I have to say now the ones, I mean, they have really big ones. Yeah, they're giant. And for someone who's shorter. Yep. They look ridiculous. And I put it on because the sales people, oh, you got to try this on. I'm like, I'm going to do this for you. And then I come out, they're like. that looks ridiculous. Yes. And I'm like, I know. So the question is who can wear it? And I'd say if you are 5'11 to 6'2, you can wear it. Yes. And it'll look amazing on you. But for someone who's more petite, it's not right. So Speaker 1 (10:21) I actually wear them all the time. But really the exaggerated ones? Not the overly exaggerated ones. But I do really find myself drawn towards blazers and jackets that have a little bit of a shoulder pad because