The RealReal to vacate Union Square flagship, cut jobs

The online reseller is laying off 230 workers and pulling back on its expansion into physical outlets.

A case of Chanel bags at The RealReal's Union Square store, May 28, 2022. The company announced job cuts and the store closure in a Securities and Exchange Commission filing.-based luxury goods marketplace that has struggled with a flashy expansion into brick-and-mortar stores, is laying off 230 workers and pulling back on its footprint in the city, according to a regulatory filing Thursday.

The firm will close its 8,000-square-foot Union Square store, which opened in 2020 just weeks before the COVID-19 pandemic forced mass lockdowns. The RealReal will also reduce office space in the city, the filing said. The company's corporate headquarters are in Telegraph Hill. Declining foot traffic at Union Square has resulted in retailers pulling out from the city’s expensive downtown. Many tentpole stores in the area have closed in recent years, including

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