INSUBCONTINENT EXCLUSIVE:
The secondary luxury goods market has been growing wildly in recent years, with more shoppers opting to both sell their lightly used luxury
goods like clothing and jewelry for cold, hard cash, as well as buying the pre-owned, authenticated luxury goods of others.One of the
biggest beneficiaries of the trend is The RealReal, a nearly eight-year-old shopping destination for the growing population of people who
might not be willing or able to purchase a new Hermes Birkin bag but are willing to buy one in like-new condition for considerably less
price, then uses the money to buy another new handbag (or a used one) that can be resold at a later point in time.Another beneficiary of the
authenticated watches and jewelry for sale at its site, and that has more recently begun offering pre-owned timepieces directly through
brands like Fendi Timepieces, Raymond Weil and Roberto Coin that now partner with TrueFacet to carry their pre-owned timepieces with a
The company, which had previously raised $14.7 million in funding from investors, looks to be closing in on another $10 million round,
judging by freshly filed SEC paperwork that shows it has so far raised $7 million in funding and is targeting $9.8 million
sit on the board of Dolls Kill, an edgy clothing marketplace that we wrote about on Monday.TrueFacet has some tough competition in the
space, including Crown Caliber, a six-year-old, Atlanta, Ga.-based company that has never announced outside funding, and 15-year-old,
Both sell timepieces alone, however.It also competes directly with The RealReal, which has raised nearly $300 million from investors and
sells clothing and high-end home decor, as well as jewelry and watches
which now operates permanent offline stores in both New York and L.A., TrueFacet is also crossing the chasm into the offline world, though
sells timepieces to many monied Bay Area VCs and other Silicon Valley bigs at stores in Redwood City and Menlo Park, Calif
