Neiman Marcus Expands Partnership With the RealReal

Neiman Marcus has expanded its partnership with luxury consignment retailer the RealReal to bring its services—and customers—to its stores.

Earlier this year, the companies partnered to offer in-person consignment at six Neiman Marcus locations. With the expanded partnership, that number has been upped to 34.

The companies also announced that consignors with the RealReal will now be offered optional payment in the form of a Neiman Marcus gift card totaling 10 percent above the cash payout. 

“We learned that over 40 percent of our consignor base was interested in receiving their payment in the form of gift cards to their favorite luxury retailers,” said RealReal founder and CEO Julie Wainwright. “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.”

“There is a very real demand for a service-oriented aftermarket solution for selling luxury goods, evident through the thriving business we’ve established,” she said. “In 2015 alone, we’re projected to pay consignors over $100 million from the resale of their luxury goods.” 

“Neiman Marcus always puts a priority on enhancing our customer’s shopping experience and exceeding her expectations,” said Neiman Marcus chief marketing officer Wanda Gierhart. “Through our partnership with the RealReal, our customers can now schedule a private, in-home consignment with the RealReal through all Neiman Marcus stores. 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.”