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The RealReal Sells Vintage Luxury. Now It Wants to Sell Stock

The reseller of expensive secondhand clothing, handbags and jewelry is looking to raise $270 million in its initial public offering.

Consignment clothing at a RealReal store in San Francisco.

Consignment clothing at a RealReal store in San Francisco.

Photographer: Jason Henry/The New York Times via Redux

Walk into this luxury boutique on Manhattan’s Upper East Side and you’ll find the kind of fashion that’s de rigueur for the 1%. There are $8,000 Oscar de la Renta jackets and Hermes alligator handbags priced to move at $30,000.

To drop off your used clothing, though, you’ll have to go upstairs.