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The Real Real Co-Founder Marcy Carmack

At a recent cocktail party, I overheard a major fashionista raving about a new fashion website (her closet would leave Hamish Bowles panting, so she knows what she’s talking about.)

“It’s fabulous, you just fill out the form and they pick up your clothes for free,” she told her friend, with a hushed intimacy one reserves for one’s worst kept secret. “Do they do designer clothes?” her friend asked. “It’s what they specialize in.”

I leaned in closer, and soon realized they were talking about TheRealReal.com – the new site created by my dear friend Marcy Carmack and her business partner, Julie Wainwright!

The Real Real Co-Founders, Marcy Carmack and Julie Wainwright

It seems word is getting out about The Real Real, and customers are really pleased. I’m not surprised, as the site is bound to become the next major success story in the flash sale world.

While gilt.com dominates in mid-range designer fashion, onekingslane.com in luxury home furnishings and decor, and lovingeco.com in eco-friendly items, therealreal.com is mastering a new and brilliantly conceived niche: online designer consignment.

Marc Jacobs jacket, $115.00 at The Real Real

Don’t let the word “consignment” turn you off, with its connotation of musty racks crowded with sad old clothes bearing labels that would blush with embarrassment if they could.  At The Real Real, you’ll only find high-quality, luxury designer fashion.

Items are placed into themed collections, and then sold in special flash sales. A recent flash sale was comprised of pieces designed by Jean Paul Gaultier and John Galliano – prices ranged from $75.00 to $695.00, an unbelievable bargain. After the item sells, the original owner receives 60% of the sale price (if you consign before Sept. 30, 2011, you get 70% for life!)

Upcoming sales include collections of Balenciaga, Hermes, Roberto Cavali, Manolo Blahnik, Yves Saint Laurent, Gucci, Calvin Klein, Dolce & Gabbana, Phillip Lim and Alexander Wang, among others.

The Real Real is an indispensable new tool for the true fashion shopper – whether looking for great bargains on fabulous clothes, or if one simply needs to clean out the closet.

Visit: The Real Real [therealreal.com]