The RealReal taps former Canadian Tire, Neiman Marcus exec as CEO
The RealReal has ended its six-months-plus search for a new CEO.
The luxury goods resale company said that John E. Koryl will join the company as its chief executive officer and as a member of its board, effective February 6.
He succeeds Rati Sahi Levesque and Robert Julian who have acted as interim co-CEOs since the abrupt resignation of RealRead founder Julie Wainwright, who stepped down as CEO, chairperson and board member in June.
Levesque and Julan will remain with the company as president and COO, and CFO, respectively.
Koryl recently served as president, digital, at Canadian Tire Corp., where he was responsible for transforming the company’s digital experiences. (Canadian Tire operates in the automotive, hardware, sports, leisure and housewares sectors.)
Prior to joining Canadian Tire in 2017, he was with Neiman Marcus Group, where he was president, Neiman Marcus Stores and online, and president, Neiman Marcus Direct.
Earlier in his career, Koryl held senior positions at Williams-Sonoma and eBay.
“We are excited to have John join The RealReal at this important point in the company’s evolution,” said Rob Krolik, lead independent director, The RealReal. “He has extensive experience as an e-commerce and omnichannel executive driving operational excellence and profitability. This experience, combined with his proven track record of successfully developing and growing online businesses, make him the right person to lead The RealReal.”
As CEO of The RealReal, Koryl will be “hyper-focused” on streamlining the company’s operations to improve overall client experience, achieve cost savings and lead the company to profitability, The RealReal stated. The company reported a net loss of $47.3 million and revenue of $143 million for its third quarter, ended Sept. 30. 2022.
“I’m thrilled to be joining The RealReal at such a pivotal time for the brand,” said Koryl. “As the leader in luxury resale and as the pioneer in transforming the consignment experience, The RealReal has significant opportunity to capture even more market share in the quickly evolving and fast-growing resale industry.
The RealReal operates one of the world’s largest online marketplace for authenticated, resale luxury goods across numerous categories, including women's and men's fashion, fine jewelry and watches, art and home. It also operates 19 retail locations, including 16 stores where customers can sell, meet with experts and receive free valuations.
The company employs hundreds of in-house gemologists, horologists and brand authenticators who inspect thousands of items each day.