Luxury search engine platform 'Reali' operator 'The Real Group' secures investment from Strong Ventures
The Real Group, which operates the luxury fashion search engine platform ‘Reali’, has secured seed investment from the American venture capital firm Strong Ventures. Reali is building a search engine specialized in luxury fashion that allows everyone looking to purchase luxury goods to easily and quickly find and buy luxury items from around the world, starting from price comparison.
Through its self-built global luxury search engine, Reali matches sellers and buyers, addressing the asymmetry of price and inventory information caused by fragmented luxury fashion information, price differences arising from different distribution structures by seller, and the difficulties of purchasing from overseas sites. Since its launch in September 2021, Reali has achieved an average transaction growth rate of over 210% per month and has grown into a service visited by more than 30,000 customers monthly.
Co-founders Ahn Seong-jun, CEO, and Lee Soo-chan, CTO of Reali, are serial entrepreneurs who have experience in founding and selling platforms such as the college student recruitment platform Super Rookie, Singapore’s beauty service Vanity, and shared office Stage Nine. CEO Ahn Seong-jun stated, “The core of Reali is the connection between sellers and buyers, which ultimately revolves around the functionality that allows users to easily search for the luxury items they want. To create a better service, we plan to focus the investment on securing talented personnel, improving service functions and user experience, and branding.”
He also mentioned, “We aim to establish Reali as the largest luxury search engine platform in the country by 2025.” George Yoon, the lead investment officer for this round, stated, “The luxury market share among the MZ generation, who are familiar with online shopping, is continuously increasing and is projected to reach 55% by 2025. Reali is transforming the existing supplier-centric market into a buyer-centric one, creating a vertical platform familiar to the MZ generation, similar to the travel metasearch engine Kayak, and building a global luxury search engine.” He also noted, “We decided to invest due to the founding experience of The Real Group team and their quick response through data analysis.”
