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<\/a><\/p>\nCompany: The RealReal, Inc.<\/strong> Link to Prospectus<\/strong><\/a><\/p>\n Link to Retail Roadshow<\/a><\/strong><\/p>\n Business<\/strong>:\u00a0 They are revolutionizing luxury resale by providing an end-to-end<\/span> service that unlocks supply from consignors and creates a trusted, curated online marketplace for buyers globally. Over the past eight years, they have cultivated a loyal and engaged consignor and buyer base through continuous investment in their technology platform, logistics infrastructure and people. They aggregate and curate unique, pre-owned<\/span> luxury supply that is exclusive to The RealReal across multiple categories, including women\u2019s, men\u2019s, kids\u2019, jewelry and watches, and home and art. They have built a vibrant online marketplace that they believe expands the overall luxury market, promotes the recirculation of luxury goods and contributes to a more sustainable world.<\/p>\n Comps: <\/strong>Etsy Inc (ETSY), Farfetch Limited (FTCH), Ebay Inc (EBAY); Others listed below:<\/p>\n Financials:\u00a0<\/strong>Their total revenue was $133.9 million and $207.4 million, and their net loss was $52.3 million and $75.8 million in 2017 and 2018, respectively. In the first quarter of 2019, their total revenue increased 49.1% to $69.3 million, and their net loss increased 64.6% to $23.2 million.<\/span><\/p>\n Market Opportunity: <\/strong>Theyparticipate in the large and growing personal luxury goods market, which was expected to reach $294\u00a0billion in 2018, and is expected to grow to between $362 and $412\u00a0billion in 2025, according to Bain. Luxury goods retain value over time as a result of their enduring desirability and durability, making them particularly well-suited for resale. The total addressable market of luxury products in U.S. homes potentially available for resale, including men\u2019s and women\u2019s apparel, handbags, shoes, watches, jewelry, high-end furniture and art valued below $250,000, is approximately $198\u00a0billion according to Frost & Sullivan. They are well positioned to benefit from several favorable industry and consumer trends, including the accelerating shift of luxury to digital channels, the increasing acceptance of resale, a rising value consciousness and a desire to embrace sustainability.<\/p>\n Book-Building Status<\/strong>: The way the book comes together during the week of the roadshow is the most critical indicator to first-day and first-week performance. IPO Boutique uses its 45 years of experience and sources all over the street to gather daily subscription levels, specific price guidance and what type of investors are currently in the book or are anchoring orders in the book. In addition, recent underwriter performance on sector specific deals is a strong factor that IPO Boutique takes into account when determining if our clients should indicate for any offering.<\/p>\n IPO Boutique subscription clients receive daily updates on this critical information.<\/span><\/a><\/p>\n Conclusion<\/strong>: IPO Boutique provides ratings, daily commentary and a forecast for how this IPO will open vs. its offering price. We have kept a\u00a0track record<\/span><\/a>\u00a0with our performance for last 12 years at our website.<\/p>\n
\nSymbol: REAL
\nDescription: The RealReal is the world\u2019s largest online marketplace for authenticated, consigned luxury goods.
\nShares: 15 million
\nPrice Range: $17.00-$19.00
\nMarket Cap: $1.4b-$1.57bn
\nTrade Date: Friday, 6\/28
\nUnderwriter(s): Credit Suisse, BofA Merrill Lynch, UBS Investment Bank
\nCo-Manager(s): KeyBanc Capital, Stifel, Cowen, Raymond James
\nTerms Added: 6-17-19<\/p>\n<\/a><\/p>\n<\/a><\/p>\n